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love 2 sew

06-30-2013 08:14 AM

Depreciation longarm

Does anyone know how many years a longarm should be depreciated for business / tax purposes ?
Thanks

quilt1950

06-30-2013 08:51 AM

IRS PUB 946 has this information. I believe it's 7 years, but would also qualify for the Section 179 deduction.

love 2 sew

06-30-2013 10:01 AM

Thank you so much!

Scissor Queen

06-30-2013 07:43 PM

I would also put it at 7 year property.

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