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Furniture and fixtures, equipment and leasehold improvements are stated at cost. Depreciation of furniture and fixtures and equipment is computed using the straight-line method over estimated useful lives that range from two to ten years. Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the term of the related leases.
If the carpet is glued down (perhaps in a basement) then it becomes âattachedâ to the property and must be depreciated over 27.5 years. Beyond that distinction depreciating carpeting is the same as depreciating a new appliance (see the more detailed appliance depreciation article above).f the idea of paying several thousand dollars for new flooring without the ability to write off the cost in a short time frame is unappealing then tacked down carpet (with its shorter 5 year depreciation schedule) should be strongly considered.