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Updated almost 2 years ago on . Most recent reply

User Stats

16
Posts
4
Votes
David Van
  • Rental Property Investor
  • Henderson, Nv
4
Votes |
16
Posts

Can you depreciate a property purchased “subject to” ?

David Van
  • Rental Property Investor
  • Henderson, Nv
Posted

I wanted to find deals that I can purchase subject to but I was wondering if I am able to depreciate the house purchased this way? 

  • David Van
  • Most Popular Reply

    User Stats

    13
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    10
    Votes
    Andrew Still
    10
    Votes |
    13
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    Andrew Still
    Replied
    Quote from @Alex Garcia:
    Quote from @Christian Ehlers:

    You can depreciate a property purchased Subject To absolutely. You are the owner so any tax benefits are yours to collect


     How does one go about calculating the bases without the closing disclosure of this was done via land trust?


     You would still have some sort of documentation that captures the agreed sales price no?  I would think an appraisal would also work.  Definitely ask a real estate tax accountant.  They should be able to answer this question instantly.

  • Andrew Still
  • Loading replies...