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    Form 8594

    I notice that this board has been going since May - I'm a little slow to catch on. But, I've been busy trying to finish up the 2004 tax season.

    So, I guess this year will be an expensive year for reference books! We'll have to buy both sets to check it all out.

    My question: In the instructions for Form 8594 Asset Acquisition Statement, they define the various classes. I'm assuming Class V is the class for depreciable assets? It's the only one left that isn't something else, but I like the obvious stated.
    JG

    #2
    Class V assets

    That’s what it looks like to me. Depreciable assets are Class V assets.

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      #3
      The eighth xbook

      Thank you for your reply Bees Knees. I had wondered where you had disappeared to.

      Did you notice the address - the greek letter theta.
      JG

      Comment


        #4
        Originally posted by JG EA
        I notice that this board has been going since May - I'm a little slow to catch on. But, I've been busy trying to finish up the 2004 tax season.

        So, I guess this year will be an expensive year for reference books! We'll have to buy both sets to check it all out.

        My question: In the instructions for Form 8594 Asset Acquisition Statement, they define the various classes. I'm assuming Class V is the class for depreciable assets? It's the only one left that isn't something else, but I like the obvious stated.
        Some examples of class V assets are furniture, fixtures, land, buildings and equipment.
        So, since land is never depreciated, not all Class V assets are depreciable. Hope this helps.

        BM

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