I have a few homes that were purchased around 10- 15 years ago. I was told in a couple of conferences that it still might be beneficial to do a cost segregation. I reached out to our CPA and he said it probably is not worth it as it is already too old.
Has anyone already done a Cost Seg for homes you purchased in the past? Is it still beneficial?
Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
3y
As James said, you want to consider the basis of each home. A lot of cost segregation companies will do an analysis to help you determine if it's worth it or not. I'd reach out to one and have them run the numbers - that way you can be sure! @Edward Alicante
Years owned isn't the determining factor, what matters is the current basis of each building, which is the building's value minus previous depreciation (to summarize). If a rental home has a remaining basis of less than 200,000 then the benefit would be marginal.
Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
3y
As James said, you want to consider the basis of each home. A lot of cost segregation companies will do an analysis to help you determine if it's worth it or not. I'd reach out to one and have them run the numbers - that way you can be sure! @Edward Alicante