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Report of excess personal property - GSA

Report of excess personal property - GSA 2025

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The document is a report form for excess personal property, detailing the type of report, agency information, and specifics about the property being reported. It includes sections for cost, approval, contact information, and a list of excess items with their descriptions and values.

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What is the meaning of surplus property?

The term surplus property means excess property that the Administrator determines is not required to meet the needs or responsibilities of all federal agencies.

What is GSA personal property?

Personal property refers to physical (non-real estate or land) items ranging from common products, such as office equipment and furniture, motor vehicles, aircraft, vessels, and animals.

What is surplus in real estate?

What is surplus property? Surplus property is land owned by any local agency, that is determined to be no longer necessary for the agencys use.

What is excess personal property?

Personal property is excess when it is no longer needed by the activities within your agency to carry out the functions of official programs, as determined by the agency head or designee.

What is an SF 120?

Standard Form 120 - Report of Excess Personal Property - is used by executive agencies to report excess personal property as required by the Federal Property Management Regulations (41 CFR 10236.215).

What is surplus personal property?

Eligible state and local government agencies and nonprofit organizations can obtain personal property that the federal government no longer needs through the Federal Surplus Personal Property Donation Program. Surplus personal property includes all types of property except: Land or other real property.

What is considered personal property for depreciation?

The kinds of property that you can depreciate include machinery, equipment, buildings, vehicles, and furniture.

Report of excess personal property - GSA 2025

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