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Updated about 2 years ago,

User Stats

59
Posts
21
Votes
William C.
21
Votes |
59
Posts

Cost Seg On 2 Properties With Past P.I.S. Dates

William C.
Posted

We ask the question below, because we have contacted multiple (reputable) cost seg study companies and have received conflicting answers. It is hard to tell who is providing accurate info and who may just be telling us what we want to hear in order to gain our business. Posting this hear in hopes of more clarity on our situation. Thank you all in advance.

Property #1 - Purchase Date = 8/2019. Placed In Service (P.I.S.) Date = 3/2022.

Property #2 - Purchase Date = 6/2017. Placed In Service Date = 5/2018.

With bonus depreciation reducing starting in 2023, we would like to take advantage of 100% bonus depreciation in the 2022 tax year by running cost seg studies on 2 of our long-term rental properties. Because of the lag time between purchase dates (we occupied each as our primary residence before converting them to long-term rentals) and the Placed In Service (P.I.S.) dates for each property, will we still be able to realize 100% bonus depreciation if we run a cost seg and then file with our 2022 taxes?

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