The National Directory of Certified Public Accountants

Ask A CPA - Depreciation

Depreciation - Furniture In A Rental Property

Furniture would be considered 5 year property (having a 5 year useful life)for MACRS depreciation purposes in a rental property. Furniture and equipment, such as desks and files, would be considered 7 year property ( having a 7 year useful life)for MACRS depreciation purposes in a non-rental property such as in an office.

If you need professional help with "Depreciation" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.