Cost Segregation depreciation

[Clayton Smith]

I built a house this year that is now a rental property. I have all the cost and paperwork to back them up. This sounds like a perfect situation for using cost segregation depreciation. I am looking for a breakdown of how to organize my cost? 

Do I lump light fixtures in with framing that sort of thing.  

[Eamonn McElroy]

Yes, I am going to talk with my CPA. Just wanted to have a base understanding of it before we talked. I will be sure to check on the categories.

Assigning class life under MACRS is nuanced and full of caveats.  As long as your professional is competent on the matter and can explain things in layman's terms, you're going to get a whole lot better understanding after a 30 minute conversation with him or her than any amount of online reading.

If your CPA does not do a good job explaining things to you in layman's terms or does not have a good grasp on the subject and you feel the need to read about tax law before you have a meeting, perhaps you should see what else is out there.