Trailer

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  • mbigelow
    Member
    • Jan 2015
    • 87

    #1

    Trailer

    I know that a trailer purchased and used in a business has a five year MACRS recovery period, but I'm wondering if it's listed as a vehicle or something else. Any input is appreciated.
  • mbigelow
    Member
    • Jan 2015
    • 87

    #2
    BTW, it's a trailer used to haul goods, not a residential trailer.

    Comment

    • Roland Slugg
      Senior Member
      • Aug 2006
      • 1860

      #3
      I am at a loss to understand why you are asking your question. Are you wondering of it's listed property, or if the special depreciation limits applicable to cars also apply to trailers? (They don't.) As long as you know the correct life/class, which you do ... 5 years ... that's all you need to know. A trailer used to haul cargo or freight is covered in category 00.27 in IRS Pub 946, Table B-1 on p. 100.
      Roland Slugg
      "I do what I can."

      Comment

      • mbigelow
        Member
        • Jan 2015
        • 87

        #4
        Sorry to put you at a loss, Roland. It's just that my tax program demands that an asset be listed by category, and I'm not sure whether to place it under vehicle, furn/equip, or something else. Maybe my question is better directed to the software manufacturer. Thanks for the input.

        Comment

        • Burke
          Senior Member
          • Jan 2008
          • 7068

          #5
          Mine does too. I always kinda thought of a "vehicle" as something that is driven. If it were me, I'd use Equipment with a 5-yr life

          Comment

          • TAXNJ
            Senior Member
            • Jan 2007
            • 2106

            #6
            Yes

            Originally posted by mbigelow
            Sorry to put you at a loss, Roland. It's just that my tax program demands that an asset be listed by category, and I'm not sure whether to place it under vehicle, furn/equip, or something else. Maybe my question is better directed to the software manufacturer. Thanks for the input.
            As R. Slugg and Burke mentions, as long as you have the correct class, etc.

            Some software asks for vehicle type and when you right click to see the "listing of assets" a trailer code e.g. D, may show a copier, typewriter, etc with a 5/6 year life or OTHER type (you must enter all data). If, you say to yourself "what?" you can question is better directed to the software manufacturer.
            Last edited by TAXNJ; 09-17-2015, 03:59 PM.
            Always cite your source for support to defend your opinion

            Comment

            • taxea
              Senior Member
              • Nov 2005
              • 4292

              #7
              a trailer does not have a motor so it is business equipment at 5/7 yr depreciation
              Believe nothing you have not personally researched and verified.

              Comment

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