Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago,

User Stats

1
Posts
0
Votes
Jacob Haynes
0
Votes |
1
Posts

Should I close in 2021 or 2022?

Jacob Haynes
Posted

I am a successful mortgage loan officer and I had a very good 2021.  I am closing on an investment property in the next week or so.  I can either close late December or early January.  Is there any benefit for me to close in 2021 vs 2022 for tax writeoff purposes?  I have heard about being able to claim 20-25% of depreciation in the first year through cost segregation, but Im not sure if this applies to me or if it would lower my taxable income (since my largely main source of income was non-real estate related).   Important to note that I did not have significant rental income this year and I am not a "Real estate professional" for tax purposes.  I am simply a mortgage loan officer who is about to own 2 properties.  Thanks all!

Loading replies...