My client replaced the elevators in the commercial building. I am inclined to think that it should be depreciated over 39 years but then the IRS segregation cost audit manual says "..., a 15-year life for the roofs, plumbing, wiring and elevators, and a 10-year life for the paving, ceilings, and heating and air conditioning systems." Could someone clarify my confusion? Thank you.
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39 years.
That citation is part of the history of depreciation. If the elevator was "placed in service" in the 1950's, it may be able to be depreciated over 15 years.
If you open the "Restaurant" part of the Audit Guide, it specifically says elevators have a 39 year Recovery Period.
https://www.irs.gov/businesses/cost-...ce-restaurants -
thank you.
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