Cost Segregation on new construction - STR

[Shravan Hemchand]

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! 

[Michael Plaks]

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...