New Roof and Economic Stimulus

[TAXNJ]

Any suggestions for reference related to the following scenario:

New Roof with an estimated life of 20 years placed in 2008 on a 25 year old nonresidential/commercial building (owned, not leased) .

Would it qualify for the Economic Stimulus Act of 2008 - 50% special depreciation for qualifying property ?

Thanks in advance

[ChEAr$]

A roof

Any suggestions for reference related to the following scenario:

New Roof with an estimated life of 20 years placed in 2008 on a 25 year old nonresidential/commercial building (owned, not leased) .

Would it qualify for the Economic Stimulus Act of 2008 - 50% special depreciation for qualifying property ?

Thanks in advance

is part of real estate, either 27.5 years or 39 years, therefore I don't see it as
qualifying property.

[TAXNJ]

thanks

Thanks for the quick response.

Your point is well taken. Though the improvement has an estimated life of 20 years, cost of improvements is depreciated based on recovery period of the underlying property which in this scenario is 39 years.

It was finally found in The TaxBook which addresses improvements on pages 7-6 and 9-9-11 "Improvements. The cost of improvements is depreciated based on MACRS class and recovery period of the underlying property."