Q:

What are IRS depreciation tables?

A:

Quick Answer

The Internal Revenue Service's depreciation tables instruct taxpayers on how to take deductions for income-generating property such as rental houses and cattle. The tables depreciate property over a period of time that ranges from three to 39 years, depending on the type of property, according to the IRS.

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Full Answer

Taxpayers use the depreciation tables to take an appropriate annual deduction until they recoup the full cost of the property or until the property is no longer in service, the IRS notes. The length of the depreciation period depends on the property's expected life span. For example, a road-use tractor has a three-year depreciation period, and a rental house has a depreciation period of 27.5 years.

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