Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Changing method of calculating depreciation
Has anybody ever changed depreciation from one year to the next? I found the following one year too late! Thank you Brandon Hall, this is great!
https://www.biggerpockets.com/renewsblog/2015/04/1...
I have a new rental and for 2015 tax year, I used my "property tax statement" to calculate my depreciable basis. For the remainder of the 27.5 years, I would like to use another (more favorable) method.
Is there a problem with this?
Do I have to amend 2015 taxes or can I just use the alternate method for the remaining 26.5 years?
Looking at the tax forms. As long as I document how I've calculate my depreciable basis, I don't see an issue.
Kay