All Forum Posts by: Samantha P.

Oh just to clarify - I'm wondering if an international real estate purchase is eligible for cost seg, with the understanding that it couldn't also do bonus depreciation and that it has a different depreciation schedule. For the purpose of, say, minimizing capital gain in the same year. 

In case anyone else is wondering about this, it's my understanding after doing a ton of research (but not having talked to a professional) that bonus depreciation only applies to properties in the US (not international properties). If someone could verify, that would be great. 

I'm wondering if cost seg can still be done just without taking the added bonus depreciation - it seems that perhaps it can. 

Did you get any information about this? I'm thinking about doing the same thing. 

What I personally would not do in Seattle is to do long-term rentals, unless you have a high tolerance for risk or it's a small part of a larger portfolio. The renters rights do not extend to STR, though, or as far as I know, to 30+days booked through a channel.

Wallingford is a fantastic location for a STR property. It's not the most trendy area, it's a safe residential area. It's adjacent to Fremont, which is a pretty trendy area and an old artist community. It's central to everything, has great public transit access to all the areas most people would want to go, is very near to a number of hospitals (we have had many guests who were here for this reason), near to the UW (graduation and events are always booked with visiting families). You can have one STR licensed in Seattle, or two STR if one of them is your primary residence. You can also long-term 30+ day without the STR license. The city does have a permitting process, which is a pain, but I personally wouldn't go into a market that doesn't have any licensing process because frankly, they will, and the unknown is more stressful. The Seattle STR law is geared toward preventing people from owning multiple STR's. This also means that there are a lot of more amateur people in the STR market, so, being a superhost with a lot of reviews and multiple properties in other areas will set you apart from the majority of STR owners in Seattle. And the thing about Seattle being so crime-infested is getting a little old. It's one of the safer cities in the US - look at the stats. That said, guests should be advised to not have their valuables in plain sight in their locked vehicles and to lock up their bicycles.

Dave, 

I'm asking here because my preference for a multitude of reasons is to file on my own, obviously :) and I accurately described my situation in my query, but if anyone who can help me needs further information, I'm happy to provide it as well. 

Hello! I purchased a property as my primary residence in 2006, converted it to an investment property in 2009, and then moved back into it in 2016. If I convert it back into an investment property, how do I calculate the depreciation when I start putting it back on my Schedule E? Do I continue the old/original depreciation schedule or somehow recalculate it? I read one post that suggested that I would need to go back and amend my 2016 taxes to recapture the depreciation at the time I had moved back into the house (!)

I also have a question about capital gains, since we might have to sell the house at some point in the next year or two. The house was under water for most of the years it was a rental, and only started being above water again within a year or so of the time I moved back into it in 2016. Is there some way that I can provide that evidence rather than the capital gains being averaged out on an annual basis from the time that I bought the house originally? 

Thanks!