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Updated about 10 years ago on . Most recent reply

Ron P.'s profile image
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Ron P.
  • Real Estate Investor
  • from CA, California
  • Member since Nov 26, 2014
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Ron P.'s profile image
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Ron P.
  • Real Estate Investor
  • from CA, California
  • Member since Nov 26, 2014
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Ron P.
  • Real Estate Investor
  • CA, CA
19
Votes |
58
Posts
Private Lending & Conventional Mortgage Advice

Tax Depreciation

Ron P.
  • Real Estate Investor
  • CA, CA
Posted

I have a rental condo on leased land that I purchased and fixed up in 2014.  Do I depreciate the full purchase price + rehab costs?  Since I don't own the land there is no way to split the purchase price between land and structure.

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Account Closed
  • from New York City, New York
  • Member since Jun 4, 2014
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Account Closed
  • from New York City, New York
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Account Closed
  • New York City, NY
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Account Closed
  • New York City, NY
Replied

It is best that you consult with a tax accountant regarding this question, but my understanding is that you cannot depreciate land anyway, since land is assumed to have an unlimited useful life. You'd only be able to depreciate the improvements. 

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