Thanks in advance for considering.Purchased a home for $700kCompleted $25k in renovationsCompleted a cost seg study (80% bonus) that resulted in $80k in passive losses for that tax yearWhat if we now sold that property for $800k.

-Fencing at least the backyards would be a bonus for tenants.

In August 1999, TREC amended Section 535.20 of the TREC rules to provide that for purposes of that section, the term "valuable consideration" includes, but is not limited to: 1) money; 2) gifts of merchandise having a retail value greater than $50; 3) rent bonuses; and 4) discounts.

My unit is in San Jose, so bonus points for those in the Bay Area!

Cost segregation studies on condos typically result in a lot of 5 year life which is eligible for 60% bonus depreciation in 2024. 

Hello,  I ran across a conversion strategy where an annuity company would add a significant cash bonus to my IRA conversion account to cover the conversion taxes so my conversion is tax free to me (well some what).  

We have run a cost seg study on the property and qualify for 80% bonus depreciation.

Obtained a bonus to switch employers8.

Bonus: I know MTR operators in your market I can connect you to as well.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.