Motorcycle Depreciation

[Safire]

5 year listed property?

[Bees Knees]

It is listed property. IRS Pub 534 and 946 uses a motorcycle in a listed property example. I can’t find anything that classifies it as 5-year property. A passenger automobile is defined in Code Section 280F as a 4-wheeled vehicle. So the 280F depreciation limitations do not apply. The 5-year life under the Asset Class system says automobiles and taxis. It does not have a separate category for motorcycles. So you could argue it is tangible personal property without a class life, which makes it 7 year property.

[veritas]

Is it a Harley?

[Safire]

Thanks Bees Knees.



Veritas, yes it is a Harley.

[sea-tax]

sorry guys and girls I hate to bring back a oldy moldy post but I need some help.

I have a sch c filer that wants to take the mileage deduction for his motorcycle. Is this allowed? I have searched high and low and found nothing.

[jainen]

it's only got two

>>mileage deduction for his motorcycle<<

Since it's only got two wheels, I think you should cut the mileage in half. Plus, you have to allocate half of that again for all the wheelies.

[OldJack]

I believe it is listed property in the use as posted here. I don't believe you could use the standard mileage rate as that is for a "car" with car being defined as a 4 wheel vehicle.

If you acquired depreciable property for the first time in 2006, see Pub. 946.

Listed property generally includes, but is not limited to:
• Passenger automobiles weighing 6,000 pounds or less;
• Any other property used for transportation if the nature of the property lends itself to personal use, such as motorcycles, pickup trucks, etc.;
• Any property used for entertainment or recreational purposes (such as photo-graphic, phonographic, communication, and video recording equipment);
• Cellular telephones or other similar telecommunications equipment; and
• Computers or peripheral equipment.

[sea-tax]

Thanks old jack for the advice I owe you one.

Jainen typical just typical of your usual response , thanks I got a good laugh.

[veritas]

Harleys

should have their own class.

Go Wildhogs!

[oceanlovin'ea]

Interesting question

I know a young guy that works for a home health care agency. He does physical therapy at peoples homes. I think after someone has had surgery and need rehab. therapy but they can go home. He goes to their house once or twice a week for their therapy.

Anyway he rode his motorcycle to go to his calls because he went all over the county.
I wonder if they paid him on a 1099. If he wanted to deduct his mileage, what would he do?

I'm not doing his taxes but I was curious how the situation would be handled.

Linda F

[KJ Judd]

I think I posted on this last year. The board determined the cents per mile wasn't an option (due to the wording on what vehicles were allowable). We determined you needed to use actual gas receipts. My (conservative) client decided it wasn't that much mileage and he didn't have the separate receipts so don't take the deduction.

[KJ Judd]

Here's what I found. An auto for purpose of the cents per mile is defined as a four wheeled vehicle. Then the list of vehicles covered by the standard mileage rate (Rev Proc 2006-47) does not include motorcycles.

[Davc]

Harleys do have a separate class. See "Oil dispersal systems".

[veritas]

Ha Ha Ha

I suppose you ride one of those Tokyo Two wheelers?

[sea-tax]

To all thanks for the advice !