EdsVending Posted March 23, 2015 Share Posted March 23, 2015 Just curious if anyone knows how many years you can depreciate vending machines? Thanks, Ed Link to comment Share on other sites More sharing options...
AZVendor Posted March 23, 2015 Share Posted March 23, 2015 I always depreciated my equipment over 7 or 10 years per my accountant's advise. You might be able to use 5 year but check with a good accountant. If you do depreciate it then when you sell it you must recapture the depreciation by reporting as regular income the difference between the price you sold it for and the current depreciated value. Link to comment Share on other sites More sharing options...
Sparta_Automation Posted March 23, 2015 Share Posted March 23, 2015 Most tax software will do it either 5 or 7 years. Once you select a year model for that equipment, you cannot change it. Travis Link to comment Share on other sites More sharing options...
musser Posted March 24, 2015 Share Posted March 24, 2015 You can also take accelerated cost recovery (sec 179) if you are talking about a meaningful amount of money the advise if a cpa is invaluable Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.