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Asset guideline classes 00.11 through 00.4, consisting of specific
depreciable assets used in all business activities (the asset
category), and (2) asset guideline classes 01.1 through 80.0,
consisting of depreciable assets used in specific business
activities (the activity category). The specific asset guideline
classes in issue are asset guideline classes 00.11 and 57.0 (classes
00.11 and 57.0, respectively). Classes 00.11 and 57.0, and their
headings, are as follows:
SPECIFIC DEPRECIABLE ASSETS USED IN ALL BUSINESS
ACTIVITIES, EXCEPT AS NOTED:
00.11 Office Furniture, Fixtures, and Equipment:
Includes furniture and fixtures that are not a
structural component of a building. Includes
such assets as desks, files, safes, and
communications equipment. Does not include
communications equipment that is included in
other classes * * *
* * * * * * *
DEPRECIABLE ASSETS USED IN THE FOLLOWING ACTIVITIES:
* * * * * * *
57.0 Distributive Trades and Services:
Includes assets used in wholesale and retail
trade, and personal and professional services.
Includes section 1245 assets used in marketing
petroleum and petroleum products * * *
Rev. Proc. 87-56 at 676, 686. The class lives specified for classes
00.11 and 57.0 are 10 and 9 years, respectively.
If the furniture and fixtures are described in class 00.11,
they have a class life of 10 years and, by virtue of section
168(e)(1), are 7-year property, with an applicable recovery period
of 7 years. See sec. 168(c)(1). If the furniture and fixtures are
described in class 57.0, they have a class life of 9 years and, by
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