Asked by Taylor Alexander on May 31, 2024
Verified
All rental properties are depreciated using the straight-line method over 39 years.
Straight-Line Method
A method of calculating depreciation for accounting purposes, allocating a uniform expense amount to each year of an asset's useful life.
Depreciated
A decrease in the value of an asset over time, often due to wear and tear or obsolescence, which can be used for tax deductions.
- Understand the depreciation rules for rental properties.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
False
Explanation :
Residential rental properties are depreciated over 27.5 years using the straight-line method, while non-residential (commercial) properties are depreciated over 39 years.
Learning Objectives
- Understand the depreciation rules for rental properties.
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