What is the depreciation period for nonresidential real property placed in service between 1986 and May 13, 1993?

The depreciation period for nonresidential real property placed in service between 1986 and May 13, 1993, is indeed 31.5 years. This specific depreciation schedule was introduced under the Tax Reform Act of 1986.

Prior to the enactment of this act, nonresidential real property was typically depreciated over a period of 31.5 years. However, changes in tax legislation modified depreciation timelines. For properties placed in service after May 13, 1993, the depreciation period was adjusted to 39 years.

The significance of the 31.5-year period stems from its alignment with certain provisions of the tax code prior to subsequent amendments that streamlined the process and clarified the distinctions between residential and nonresidential properties for tax purposes.

Hence, recognizing the specific time frame when the property was placed into service is crucial for determining the correct depreciation period, and the 31.5-year period correctly aligns with properties put into service during the stated dates.