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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.
Depreciable assets, except for buildings, fall within a three-year, five-year, seven-year, 10-year, 15-year, or 20-year recovery period under the general depreciation system (GDS). However, the actual recovery period shown in the MACRS depreciation tables show a recovery period of one additional year.This is because of the convention rules. Under the half-year convention you may only deduct 50% of the first year's depreciation.f you look at the MACRS table (shown below) for 5-year property (i.e. computers), for example, you'll notice that the span of years for the recovery period is six years.