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Updated over 5 years ago on . Most recent reply

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Ocean Zhang
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Capital expenditure for Residential real estate purchase?

Ocean Zhang
Posted

I bought a property that has a house and a warehouse on the land. I lease the warehouse to a business for $3k/mo and lease the house to a private resident for $2.7k/mo. Property is in unincorporated county land with no zoning restrictions, but it's part of an HOA. Can this property be considered commercial real estate for tax purposes and be written off as a capital expenditure on a 30+ year depreciation schedule?

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