CPA said you can only do Cost Segregation on STR property

[Noah Laker]

I'm a real estate broker and my client is a high W2 earner, taking advantage of the "STR Loophole"

His CPA told him that he can only do cost segregation on properties which are active STR's.

My understanding was that, if he obtains REP status through any one of his properties, that he can take advantage of depreciation on any investment property, even if that one is not an STR. Am I missing something?

[Kory Reynolds]

Quote from @Johnny McKeon:

Sorry to hijack,  I own 12 apartment buildings with 53 apartment units in the Phoenix Arizona Metro, I self-manage everything. I don't have a W-2 job. I'm also a realtor.

with the real estate professional tax status. Can I use cost segregation studies I've done on my apartment buildings to not pay any self-employment taxes on my real estate commissions?

I keep getting mixed answers I don't know why this real estate professional tax status is confusing to me along with cost segregation and bonus depreciation no matter how much I read about them

 If you qualify as a REP you can utilize those losses to offset your Income subject to Federal Income Taxes.  However, you can actually end up in a spot where you have no Federal Income Tax, but you still owe Self Employment Tax.  Rental losses are not self-employment income losses - so they don't offset the assessment of that 15.3% / 2.9% / 3.8% level of tax.