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Updated over 2 years ago on . Most recent reply
Bonus Depreciation Question
I think I know the answer to this, but is it correct that you cannot take bonus depreciation on a house older than 1986 build? To me it would be new (i.e., acquisition in 2022) but its the build date, correct that is relevant?
Most Popular Reply
Yonah Weiss
Tax & Financial Services
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- Cost Segregation Expert and Investor
- Lakewood, NJ
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Depreciation begins when the property is placed in service by the new owner.
When it comes to cost segregation and bonus depreciation, the age of the property does matter somewhat, because there is calculation made between the 'real useful life' of those components as compared with the 'tax useful life'. It is usually a small difference.