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Metal Building depreciation

Jdubs

Well-Known Member
Guys, I apologize as I know this has been covered in the past. However, what is the depreciation schedule, for tax purposes, on the construction of a metal building? Secondly, can you deduct living space improvements inside the building? Wondering. Thanks for any advice.
 
Strangely enough it depends on what the building is used for. Agriculture is 20 years. If its commercial its longer... 39.

...farmers get all the breaks ;)


I highly doubt living space counts. The fit out would have to be related to the business. ie... an office inside the shop.

There is also section 179, accelerated depreciation that may or may not apply or be smart or stupid.


Consult a CPA. :)
 
I intend to consult a CPA, however, I like to be armed with as much info as possible. I'm sure several on this site have considered or have direct knowledge regarding this issue.
 
I intend to consult a CPA, however, I like to be armed with as much info as possible. I'm sure several on this site have considered or have direct knowledge regarding this issue.

Always a good idea!

I've dealt with both durations above. Two different depreciation durations. Also dealt a lot with residential rentals which is 27 1/2 years. Who comes up with this shit is what I want to know?!?!
 
There is no doubt the building is deductible. Just so the building is used in furtherance of an income producing farm the cost can be depreciated over time. IRS publications 225 and 946 explain in detail. Just wondering what others have experienced. I've found that CPA, and their interpretation of the tax law, vary like the weather.
 
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