General Asset Class

General Asset Classes are set forth in Treasury Regulation 1.1031(a)-2.

There are 13 classes in all. They are:

1. Office furniture, fixtures, and equipment (asset class .11)
2. Information systems (asset class .12)
3. Data handling equipment, except computers (asset .13)
4. Airplanes (airframes and engines) except those used in commercial or contract carrying of passengers or freight, and all helicopters (airframes and engines) (asset class .21)
5. Automobiles, taxis (asset class.22)
6. Buses (asset class.23)
7. Light general-purpose trucks (asset class .241)
8. Heavy general-purpose trucks (asset class .242)
9. Railroad cars and locomotives, except those owned by railroad transportation companies (asset class .25)
10. Tractor units for use over-the-road (asset class.26)
11. Trailers and trailer-mounted containers (asset class .27)
12. Vessels, barges, tugs, and similar water-transportation equipment (asset class .28)
13. Industrial steam and electric generation and/or distribution systems (asset class.4)