Tax Law (Questions About Taxes)/depreciation


I rent out movie props (old phones, radios, etc.) to film makers.
How would I depreciate them. Can I list them as a whole lot or do I have to individually depreciate each item. Thank you for any help you can give me.


Thanks for your question.

It would be more simple if you depreciated then individually. That way, if an asset was retired, lost, or whatever before the end of its depreciable life, you would have much less effort trying to determine the book value of the retired asset.  You should use (for tax purposes) MACRS depreciation, utilizing the proper class life for each asset.

This link is to the IRS publication on Depreciation, covering cost basis, class life (page 32), special depreciation allowances, and other relevant issues related to depreciation.  I think you will find it useful, if you have any questions about it, send me another question.

Hope this helps.

John Stancil, CPA

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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