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Depreciation longarm
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06-30-2013, 08:14 AM
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love 2 sew
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Join Date: Nov 2012
Location: Kansas City
Posts: 158
Depreciation longarm
Does anyone know how many years a longarm should be depreciated for business / tax purposes ?
Thanks
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06-30-2013, 08:51 AM
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quilt1950
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Posts: 1,232
IRS PUB 946 has this information. I believe it's 7 years, but would also qualify for the Section 179 deduction.
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06-30-2013, 10:01 AM
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love 2 sew
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Thank you so much!
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06-30-2013, 07:43 PM
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Scissor Queen
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Location: Southwest Kansas
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I would also put it at 7 year property.
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