General Asset Classes are set forth in Treasury Regulation §1.1031(a)-2.
There are 13 classes in all. They are:
- Office furniture, fixtures, and equipment (asset class .11)
- Information systems (asset class .12)
- Data handling equipment, except computers (asset .13)
- 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)
- Automobiles, taxis (asset class.22)
- Buses (asset class.23)
- Light general-purpose trucks (asset class .241)
- Heavy general-purpose trucks (asset class .242)
- Railroad cars and locomotives, except those owned by railroad transportation companies (asset class .25)
- Tractor units for use over-the-road (asset class.26)
- Trailers and trailer-mounted containers (asset class .27)
- Vessels, barges, tugs, and similar water-transportation equipment (asset class .28)
- Industrial steam and electric generation and/or distribution systems (asset class.4)
