Carpets are normally depreciated over 5 years.* This applies, however, only to carpets that are tacked down. If the carpet is glued down (perhaps in a basement) then it becomes “attached” to the property and must be depreciated over 27.5 years.

Most other types of flooring (i.e. tile, hardwood, linoleum), unlike carpeting, are usually more or […]

1. Residential buildings (dwellings, apartment buildings, condominiums, and co-op apartments) must be depreciated over 27.5 years.
2. Land is not depreciable.
3. Furnishings may be depreciated over 5 years. When or if they are junked before the end of 5 years, with no dollars received, the un-depreciated cost may be deducted in the year of disposition.
4. Paint jobs generally are a […]