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Updated over 2 years ago on . Most recent reply

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52
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David Epstein
  • Brussels, Belgium
22
Votes |
52
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Missing documentation for depreciation details

David Epstein
  • Brussels, Belgium
Posted

Friends,

As I continue in this journey (and thanks to all who continue to motivate and inspire me to keep analyzing deals and educating myself) I have made the move to a professional CPA to help manage the modest but growing portfolio.

Question: I do not seem to be able to locate all of the documentation they are seeking to help with the depreciation.  Any advice?  One property was purchased nearly 20 years ago, the other two more recently, but I move A LOT and do not always have all my records at my disposal.  Any advice is greatly appreciated!

Most Popular Reply

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8,144
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Basit Siddiqi
  • Accountant
  • New York, NY
3,683
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8,144
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Basit Siddiqi
  • Accountant
  • New York, NY
Replied

Was the property listed as a rental property last year?
If yes, he likely just needs to see a copy of your prior year return.

If the property is new, he/she will need a list of the closing statement at purchase along with any improvements made over the years.

Best of luck

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Basit Siddiqi CPA
4.9 stars
76 Reviews

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