Depreciation: Real Estate Profesionals

[Austin Sharp]

Hello, 

I am a real estate investor, real estate professional and a  CCIM in Amarillo, TX. 

I took bonus depreciation through a cost seg study on the properties i bought,  and generated a paper  loss of ($370,000) 

My question is, can i take this entire amount against the w-2 income, and receive a big tax refund? 

The w-2 income was about $180,000. 

Thanks, 

Austin Sharp, CCIM

[Edward Zachary Samperio]

It would be best for you to consult with a tax professional or accountant to determine if you can take the entire paper loss against your W-2 income and receive a refund. The tax code is complex and varies based on individual circumstances, so it's important to seek professional advice for your specific situation.