Talk:Depreciation - Artwork

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"Depreciation - Artwork"

Can an artwork for office decoration be depreciated?

Posted by: Taps1981

IRS Publication 946 offers the following guidelines you might want to consider:
Is it property you own? (Yes)
Is it used in your business? (Yes)
Does it have a determinable useful life? (Is it gradually losing value through normal wear and tear? Will it have essentially no value at a certain point, and can you reasonably determine when that is?)
Does it have a life of more than one year? (Yes)
Hopefully that helps.
Posted by: DaveJohnson
Responded to on: June 29, 2005
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