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Updated about 2 years ago,

Tammy Mason's profile image
Tammy Mason's profile image
Tammy Mason
  • Investor
  • from Fontana, CA
  • Member since Aug 14, 2020
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124
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94
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Tammy Mason's profile image
Tammy Mason's profile image
Tammy Mason
  • Investor
  • from Fontana, CA
  • Member since Aug 14, 2020
Connect
Tammy Mason
  • Investor
  • Fontana, CA
94
Votes |
124
Posts
Tax, SDIRAs & Cost Segregation

Time for a different CPA?

Tammy Mason
  • Investor
  • Fontana, CA
Posted

I just had a discussion with my CPA regarding writing off expenses year 1 of ownership. I purchased a rental this year and have already incurred about 7k in repairs. He says I cannot write these off this year, but need to depreciate it over the years. Is this correct? I thought depreciation was a writeoff for 27.5 years for the value of building?

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