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URL:https://www.learndesk.us/class/5649611966382080/lesson/0dbee772331166d4bc98e082d989b6a4?ref=outlook-calendar
SUMMARY:Useful Lives, Depreciation Methods, and Depreciation Conventions
DTSTART;TZID=America/Los_Angeles:20260515T190000
DTEND;TZID=America/Los_Angeles:20260515T200000
LOCATION:https://www.learndesk.us/class/5649611966382080/lesson/0dbee772331166d4bc98e082d989b6a4?ref=outlook-calendar
DESCRIPTION: You should have picked up the following information from the video:

Useful Lives - Assets associated with the rental property have the following useful lives.

Structure of residential rental - 27.5 years
Structure of commercial rental - 39.0 years
Personal tangible property - 5 years
Land - non-depreciable
Intangible Assets - Lending costs - Life of the loan

Depreciation Methods - 

Rental and commercial structures are depreciated using the straight-line method
Personal tangible property is depreciated using accelerated depreciation (Double Declining Balance) unless a straight-line is desired
The land is not depreciated
Intangibles are depreciated using the straight-line unit

Section 179 - Section 179 is a section that allows expensing of many items that would otherwise be capitalized. Under current law bonus depreciation is mandatory and the client must elect out of it if he wishes not to take it. Section 179, therefore, has to be elected in order to be taken.
With regard to...

https://www.learndesk.us/class/5649611966382080/lesson/0dbee772331166d4bc98e082d989b6a4?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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