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Updated about 2 years ago,

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9,808
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JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
15,740
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9,808
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Cost Segregation data 2022 Q: bulk or list each item individual?

JD Martin
Property Manager
Pro Member
  • Rock Star Extraordinaire
  • Northeast, TN
ModeratorPosted

Good evening tax pros! 

I am running my sample 2022 tax return in order to figure out how much federal I'll owe for the year. I bought a property this year that was a good candidate for a cost segregation study, and I had it done. It will be saving me a pretty significant chunk of taxes this year so it was definitely worth doing. However, I have a question on inputting this data into my return.

I have a big list of items that qualified and corresponding 5 or 15 year depreciation amounts - example: irrigation $5254.06 (15yr); swimming pool $39,563 (15yr); Refrigerator $1812.82 (5 yr). ETC. 

Do I have to fill out a separate Federal 4562 for each item and check it off as bonus depreciation, or can I bulk the items together - either all of them total, or the 15s together and the 5s together? I obviously don't want to do anything that will make the IRS more likely to pick me out for an audit, but if it's not necessary to fill out a separate 4562 for the $500 microwave/range hood or the $400 garbage disposal, that would be spectacular. 

Thanks!

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Skyline Properties

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