All Forum Posts by: Thad Wharton

@Bill B. Great input to consider. We are only renting out one structure. We are only depreciating the one structure. For now. We may move and then rent and depreciate the other too. The cost segregation study was only $825 per structure (we have another rental we are doing this with too btw). We are thinking of getting a new CPA is a btw. We would love CPA suggestions!

Is this true that we amend old tax returns for doing a 3115 plus doing a cost segregation study? I have talked to accountants and they did not say this. 

Thank you for the info and hope we hear from Jeff! I'm back on the forums here after a break and appreciate the heck out of the wise people at BP Forums! @Denver McClure 

We are quite new to real estate and we purchased the home we rent out the ADU for as COVID was flaring up. We are now doing a Form 3115 to reflect the true value of the home we are depreciating via a Cost Seg study (for some reason the home was estimated at only 20% of the sale price the first year we did taxes). Question- ***Should we get an appraiser to give us a more accurate value than the roughly 80% land / 20% structure value that we originally had? We have heard it could be more like a 50 / 50 split or a 30 / 70 split? What do you folks think for a landlord in Los Angeles? A home across the street sold at that same time 35% less than we paid so the land value we are currently depreciating is very far off!