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Updated over 1 year ago, 09/19/2023
Cost segregation on owner occupied multi family
I have a lingering question I can not seem to get answered no matter who I contact or research. I can not locate someone in my area familiar with cost segregation and implementing it on my taxes. My current tax guy has no idea what it is and never filed the papers I gave him to implement it on my tax return. I now am starting all over again trying to find out this question.
if I fill out a 3115 and send it to the irs, what are the steps from there? How do I take the numbers from the cost segregation study and implement the numbers onto my taxes. If I send a 3115 will the IRS automatically send me a refund of funds from the years prior? Since I can not find a professional locally to help me, I am trying to do this on my own but there are no step by step instructions on how to implement a cost segregation to my taxes that were already filed. I've owned my multi family for 12 years.