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Level 6
February 21, 2025
Question

Tax life for parking lot paving, furnace and A/C

  • February 21, 2025
  • 4 replies
  • 18 views

Would you please provide me with the depreciation period for a parking lot paving, furnace and A/C for a service business.

Thanks

 

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4 replies

dascpa
Level 11
February 21, 2025

This community board is to help with software issues, not replace research that you could do on your own. While not legally authoritative, I've heard that Google is a great place to start.

dkh
Level 15
February 21, 2025

Try looking at IRS Pub946

Level 15
February 21, 2025

15 years or possibly a repair for parking lot.

39/40 years for HVAC, unless it qualifies as Qualified Improvement Property.

qbteachmt
Level 15
February 21, 2025

"for a service business"

You want to look at commercial property. Not residential, and not "service." Service might be the business, but the property is being used for a Commercial purpose.

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