Form 8594

[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.

[Bees Knees]

Class V assets

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

[JG EA]

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.

[Unregistered]

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