New Roadway - Cost Segregation or Depreciation?

Question

Good day all,We've installed a new driveway that costed $9,000. The old driveway was 40 years old and needed major repair.Can I tax depreciate this item in my personal tax? or is this cost segregation?

Ashish Acharya · Answer

You have to capitalize and depreciate. You can take bonus depreciation (80% write-off) as a land improvement. Cost seg is not needed.

Isaac Weinberger · Answer

@Phil Contreras if you're doing a study regardless than it might make sense to throw it in, if you aren't the cost benefit isn't worth it, speak to your CPA regarding expensing it.

John Malone · Answer

@Phil Contreras yes as a 15 yr land improvement then elect bonus depreciation (80%)

Phil Contreras · Answer

Appreciate the response Issac.

New Roadway - Cost Segregation or Depreciation?

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