Is a new roof on a commercial building eligable for bonus depeciation under the 2008 stimulus tax law?
Posted by admin
Jim F asked:
I read that 50% bonus depreciation is not available for things that have useful lives greater than 20 years. I believe that a new roof on a commercial building usually must be depreciated over 39 years. On the other hand, a new roof probably has a 20 year or less useful life. I am not sure if the IRS has put forth it’s view of the useful varuous items like roofs.
I read that 50% bonus depreciation is not available for things that have useful lives greater than 20 years. I believe that a new roof on a commercial building usually must be depreciated over 39 years. On the other hand, a new roof probably has a 20 year or less useful life. I am not sure if the IRS has put forth it’s view of the useful varuous items like roofs.
Thanks for any help with this.
Insulated Vinyl Siding
February 27th, 2010 at 5:23 pm
Roof does not qualify for the bonus depreciation.
Roof does indeed state that the stimulus package does not qualify for the bonus depreciation.