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Updated almost 3 years ago,
Pursuing cost segregation as a non real estate professional
Hi all, I'm alil confused on how cost seg works. Specifically, are there limits to how much I can take on accelerated depreciation if i am not a real estate professional? Is the accelerated depreciation only applicable to schedule e? Meaning, it cannot be carried over to offset any income I've made outside of real estate in my main profession?
Say hypothetically speaking, if I am allotted $150k of cost seg with bonus depreciation in year 1, would I be able to use it all in the first year? If so, if there a top limit to how much I can use from that number? If no, does it carry over to future years until it is used up?
Basically want to know want I can use in a cost seg if i have a job outside of RE and I am not consider a RE professional?
Any feedback would be appreciated!