Accelerated depreciation for rentals?

[Randy B.]

I have heard that depreciation can be accelerated on all but the land - which cannot be depreciated at all.  After some investigation, it appears that even the building itself can only be depreciated for 27.5 years and it's the fixtures and other items like parking areas, appliances, etc. that can be depreciated in shorter time periods.  Any feedback or clarification you can provide will be welcome!

[Yonah Weiss]

Thank you for summoning me @Taylor L. 😁

@Randy B. your findings are correct. Properties are depreciated on the MACRS (The Modified Accelerated Cost Recovery System), which defines building and structural components of a residential (including multifamily) property on a 27.5 year schedule. Other components in the property like furniture, carpeting, fixtures, pavement, landscaping, etc. depreciate on a faster schedule and can be properly accelerated through a cost segregation study.