Bonus Depreciation For STR Question

[Timothy Fortin]

I really need some help understanding the bonus depreciation tax laws. I have an STR that was placed into service in 2022. Being a unwise, junior investor, I just claimed straight line depreciation for 2022 and 2023 taxes.

Is it possible to do a cost segregation study this year (2024) and retroactively take 100% bonus depreciation from that cost seg since the property was placed into service in 2022?  I've read a lot of posts about amending prior years tax returns, and filing a form 3115, but I'm still unclear on if it's possible to retroactively take 100% bonus depreciation. 

Thanks!

[Michael Plaks]

Quote from @Timothy Fortin:

does anyone have any references or recommendations for a third party company that offers cost segregation and form 3115 filing?

Some of the cost seg providers you can reach out to are @Bernard Reisz, @Yonah Weiss and @Julio Gonzalez.

Cost seg companies sometimes include completed 3115s with their service. Unfortunately, they don't always complete them correctly. But it sure beats DIY.