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Updated 12 months ago on . Most recent reply presented by

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Ryan Judkins
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Cost Segregation on Primary Residence if renting out the basement

Ryan Judkins
Posted

I live upstairs in a primary residence and have just started renting out the basement.  Can I get cost segregation depreciation on the % of the house that is rented out?

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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
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Basit Siddiqi
#3 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • New York, NY
Replied

I would speak with a CPA before going with your stategy.

Rental losses on a owner-occupied SFH rental may be limited(even if you qualify for real estate professional status).

But if your question if can I do a cost segregation...the answer to that is yes...

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Basit Siddiqi CPA
4.9 stars
78 Reviews

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