Tractor depreciation - how many years?

[RobA]

I own a piece of property and rent the house and about 1/3 of the land. I bought my tractor last year and use it to maintain my part of the land and the rental piece as well. I have been dividing the deductions (taxes, etc) between the 2 pieces and want to depreciate "part" of the tractor on my tax return as a rental expense. Anyone have any advice on how many years I should depreciate the tractor for? Or does it matter as long as I assign an appropriate residual value at the end of the depreciation period (purchase price - residual value depreciated over X number of years).

 

[MLinOleMiss]

My CPA set mne up on a seven year schedule.

 

[fishman]

Turbotax says seven years.

 

[RobA]

Thanks guys. I am using Turbo Tax but for some reason couldn't get it to work properly last night. I'm good to go now - just filed my returns electronically.

What a website! Tractor help, tax help........