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Updated about 2 years ago on . Most recent reply presented by

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Alan Taylor
  • Real Estate Agent
  • Manassas, VA
10
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Placing an STR property 'in service' for depreciation

Alan Taylor
  • Real Estate Agent
  • Manassas, VA
Posted

We're closing on a property in South Western North Carolina this coming week -- and we're trying to get the property ready to 'go live' as soon as we can.   We also wanted to be able to take advantage of the 'bonus depreciation' -- and while reading through the IRS regulations on this, for real estate, it looks like 'placing in in service' has a varying definition. 

What would be required for an STR property to be 'placed in service', for tax reasons?

  • Alan Taylor
  • Most Popular Reply

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    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
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    Michael Plaks
    #1 Tax, SDIRAs & Cost Segregation Contributor
    • Tax Accountant / Enrolled Agent
    • Houston, TX
    Replied

    @Alan Taylor

    The same exact question was answered here, with important caveats mentioned: https://www.biggerpockets.com/...

  • Michael Plaks
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