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Updated 8 months ago on . Most recent reply
Cost Segregation on new construction - STR
Hello,
I hope you are doing well. I need to perform a cost seg study on my short term rental which was newly constructed during 2023. This is for my 2023 tax return, and I have filed an extension.
I am looking for insights if I should perform a DIY cost seg or if I should work with a firm? The build cost is $400,000. If I should work with a firm, do you have any recommendations? I spoke with the firm remotecostseg.com and got a quote of $5,000.
Any insights and recommendations will be highly appreciated. Thank you so much!
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
Quote from @Shravan Hemchand:
I am looking for insights if I should perform a DIY cost seg or if I should work with a firm? T
For a full service cost seg study, reach out to these 3 firms, in any order: @Bernard Reisz (ReSure), @Yonah Weiss (Madison SPEC) and @Julio Gonzalez (Engineered Tax Services).
For DIY - read this post: https://www.biggerpockets.com/forums/51/topics/1136752-expla...