Depreciation basis calc

[Mark Andrews]

Suppose I purchase a property for $200k. Is my depreciable base the entire $200k or do I have to back off the amount that is considered land?

[Natalie Kolodij]

No. 

You get to depreciate only the building- land is not depreciable. 

There are several IRS allowable days to determine building value- I'd work with your tax pro to figure out which is most beneficial to you.