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Updated 3 days ago, 12/11/2024
Prorated depreciation for str
Purchased a STR in February. Worked on the remodel until the end of August. Once the cost segregation study is complete, will I be able to take a full year of depreciation or only a prorated 4 months? I have seen a tax attorney on YouTube specifically saying you can take a full year of depreciation even if you buy in December but all I see in the IRS publications indicates that you have to prorate based upon the time it was available to rent.
is there a rule I am missing?
Thanks for your time.