Tax depreciation for pool

[Melinda Rupard]

Good afternoon,

I've been told conflicting information on this question from other sources, so I wanted to ask for clarification here.  One of my rental properties has an in-ground swimming pool. When I bought the property, the pool had already been installed by the previous owners.  I did not pay for the pool.  Am I able to take any tax depreciation for the pool?  Or, is it included in the depreciation for the home? Thank you for your assistance!

Best regards,

M 

[Andrew Ware]

What Paul Caputo said is correct to my understanding. The question is whether it's worth the cost doing a cost segregation study. The pool isn't land so it does get depreciated for sure. The question is whether you go the lazy route and just count it as part of the non-land and depreciate it at 27.5 years. Or get faster depreciation by further splitting out the structure from finishes and improvements. I'd definitely send Paul a message and get his professional advice.