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B
BENDER
Level 1
November 13, 2023
Question

Is a new residential hot water heater considered 7 year property or 27.5 year property for depreciation purposes ???

  • November 13, 2023
  • 1 reply
  • 82 views
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1 reply

T
TaxGuyBill
Level 15
November 14, 2023

In my opinion, 27.5 years because it is critical portion of the plumbing system.

However, if your client qualifies for and make the De Minimis Election, perhaps it could be deducted under that provision.

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    November 14, 2023

    and they do last a long time!

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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