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Last Post 04/14/2012 9:40 PM by  morning
Depreciation in Arkansas
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04/14/2012 9:40 PM

    Hey Folks!  I need some help on a homeowner's claim in Arkansas.   It's 3rd party claim on a water loss and I am working for carrier for insured who caused it and am in receipt of a subrogation demand. 

    My questions relate to depreciation.  What is Arkansas law/statute/precedence regarding depreciation of the following?

    1. Drywall   
    2. Tear out of flooring
    3. Special scrape and remove glue 
    4. Special prep and mask for painting

    I am also trying to determine if it's appropriate to apply tax to both labor and material on flooring operations?  And finally I am wondering about O&P.  The loss invovles 5 rooms of wood flooring that are getting replaced, painting, drywall and insulation minimums (can you depreicate insulation?), replacing a vanity cabinet and removing and resetting washer/dryer, refrig, dishwasher, countertop and sink, and one extra large kitchen island.

    Any help would be appreciated!                    

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