Assets identified in this study include:Permanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

My siblings and I are building a home in North Port, FL.Here are the numbers:Finished Home Value: $412KishLand Cost: $19,750.39Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!!

So far - I have been making a ton of posts on different Facebook groups and just now made my BP account (I have been a LONG TIME lurker here).Thanks in advance and I appreciate any and all help.

Accounting for approximately $10,000 of repairs, maintenance, and capital expenses per month, this still leaves a passive stream of about 20,000 to split between two partners.

Let’s say the main tenant accounts for most of the annual revenue with a lease ending soon (is healthy and probably looking to resign).

Is it an accountability partner or team? 

I’m good with having four separate bank accounts and separate filing but wanted to get feedback and thoughts on this entity structure. 

But constantly having to have 30k in my bank account for a downpayment when I was under contract constantly for 18 months took its toll.

An activity is a personal service activity if it involves the performance of personal services in the fields of health (including veterinary services), law, engineering, architecture, accounting, actuarial science, performing arts, consulting, or any other trade or business in which capital isn’t a material income-producing factor.7.

The client copy of the tax return should include a depreciation schedule of each rental property that you have.If the tax return that you have does not include it, you should be able to request it from your accountant and ask if they can provide it to you annually going forward.The depreciation schedule will include the original cost basis along with the accumulated depreciation.Best of luck.