All Forum Posts by: Ajul Shah

Haha this is why this situation is so confusing - many people with differing interpretations! Let me give a little more context on the situation

I'm aware of current 60% bonus depreciation, and my wife is REPS. We will be theoretically converting this unit to a long term rental (not STR) so we won't qualify for the STR loophole. Specifically want to know if converting to LTR will allow for bonus depreciation which we would use to offset w2 based on wife REPS status.

thanks for the advice!

Here is what I was sent for reference, in case anyone has seen this. I’m concerned about the first bullet point.

Hi there, hope someone can help me with this question. I have had conflicting advice from cost segregation specialist versus our CPA. If a primary residence is converted to a long-term rental property, can bonus depreciation still be claimed in the first year? Our CPA says yes but the cost segregation  specialist says bonus depreciation does not apply to primary converted to rental. Does anyone have any advice?