Guideline Lives
Guideline Lives means:
the depreciable lives for buildings and equipment used in trade or business; generally applied to assets bought before 1981. The accelerated cost recovery system applies to depreciable assets bought in 1981-1986; the modified accelerated cost recovery system to purchases after 1986. Guideline lives for certain assets are as follows:
• apartments-40 years.
• dwellings-45 years.
• hotels-40 years.
• warehouses-60 years.
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