Kurt Stein
Cost Basis for Depreciation
Hi BP,
I'm preparing my taxes and am trying to determine the value of depreciation that I can write-off on my taxes. Where do I find the cost basis (value of structure) for my rental property? Is it on the county web...
Julio Gonzalez
Asset Classifications for Cost Segregation
Cost segregation utilizes the MACRS approach. The key is to identify personal property from real property. Tangible personal property identified in a cost segregation study is what allows you to accelerate depreciatio...
William Mccurdy
Depreciation method preference
MARCS or straight line depreciation. So as I understand it if I use MARCS I will be on the hook for more in taxes when I sell the property vs straight line depreciation. Still with that in mind what is the preferred d...
Mike McCarthy
First rental property - When does depreciation start?
Bought my first rental in Oct 2016. Spent a few months renovating, and will be renting starting this month (March 2017). I wasn't planning on including anything rental related on my 2016 taxes, since there hasn't be...
Melanie Baldridge
Understanding the IRS Section 179 Election
Understanding the IRS Section 179 Election to Expense Depreciable Assets is crucial to making the most of your tax strategy.
This provision allows taxpayers to expense certain qualifying assets upfront instead of dep...
Linda M.
tax deduction for for items brought separately from renovation
I purchased a multi unit property ,the renovation was included in the mortgage my question is ,when it is asked on the tax for depreciation the purchase price do i use the sale price of the property or do i use the s...
Matthew Orton
Michigan SEV Calculations
I have an opportunity to buy a student housing property that was sold a few years ago for $8M, at a reduced price of ~$5M due to Covid and a few other issues. The property has an SEV close to 50% of the original $8M p...
Chris Clemptor
More questions about depreciation
Thanks to everyone who responded before, this forum is so great. I'm a first time landlord, I rent out half of my house. I'm trying to find out my depreciation number and more questions have come up. I understand I c...
Jazmine S.
Florida Tangible Tax question?
I’ve read everywhere that you must file if the property is owned by a company, or if it is a rental.What about a flip as an individual?
Fausto Carosella
Florida CPA question Re: Furnished Primary Residence
Hey Florida CPA's (or anyone!) When purchasing a furnished rental property we have to pay the tangible personal property tax on the non-real estate related items, with an exemption on the first 25,000. Does anyone kno...