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Updated almost 6 years ago,

User Stats

115
Posts
37
Votes
Tony H.
  • Rocklin
37
Votes |
115
Posts

Need help with depreciation

Tony H.
  • Rocklin
Posted

Hi BP,

I cant seem to find an answer to my situation here, unless I missed it.

Here is the problem. When I acquire the my duplex back in 2017, the tax assessment for the land was about 50k.

I subtracted that from my purchase price 300k to get 250k depreciable value.

A year later, I received a supplemental tax bill with revised assessed value that match my purchase price total.

However this time they assess the land to be $130k and 170k for the home.

Now im way off in my 2017 tax returns.

Any suggestions?

Thanks

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