Bonus Depreciation Question HELP NEEDED PLEASE From You Amazing Tax Pros!!!!

[Jonathan St.Leger]

Hello BP Nation, 

I sure could use some help with a problem that I'm currently facing. So....... with my previous CPA (who has since unexpectedly retired) we did a cost segregation study on an asset that was placed into service in 2021 which broke down the bonus depreciable items into 3 buckets, a 15 year bucket, a 7 year bucket, a 5 year bucket and the rest would be on a 39 year straight line depreciation schedule as it is a short term rental. For the tax year of 2021 I was advised to only take the full 15 year bucket as that brought my income down very low and that I could take the either one or both of the 7 year & 5 year buckets in the following year 2022 as 100% bonus depreciation. I have since needed to hire a new CPA and he is saying that I cannot use the remaining 5 & 7 year buckets as 100% bonus depreciation and that they can only be used as accelerated depreciation which helps a little but I tax planned and strategized based on being able to use100% bonus. As a result I'm left with a hefty tax bill as well as penalties and interest. For those in the know, can you please advise me if I should in fact be able to use them as 100% bonus in the second year?  Thank you so much. 

[Michael Plaks]

Quote from @Jonathan St.Leger:

For educational purposes and future planning, is there a downside to having a large net operating loss carrying over into future years? 

The downside is wasting your low tax bracket in the year when NOL is created (2021). Your plan was OK, but it does not work due to timing.