Saad Handoo
Writing off Depreciation Expense
I read somewhere that you can write off on your taxes a certain portion of your income if the property is younger than 27.5 years (or something to that tune). I recall there being something about a 10K threshold. Mayb...
Les Jean-Pierre
Inherited Property and Depreciation
Hi, I know the rule is if a person inherits a property there is a stepped up basis for capital gains purposes. Does the same rule apply to depreciation? The property in question is purely a rental and would stay that ...
Dennis Tierney
Cost Segregation Depreciation Uses
We came up with a couple of uses for accelerated depreciation by cost segregation. We had a failed attempt at 1031 exchange last year but were able to eventually buy an apartment building so the losses generated by th...
Jimmy Jones
how depreciation is calculated
Hello All,I am trying to understand how depreciation of a long term upgrade (Solar) is calculated for tax purposes / understanding the real cost. My question does the depreciation directly offset net profit? Examp...
Uwe S.
Depreciation of Real Estate
Don´t know if this the correct forum here, but I want to know how high can I get a tax depreciation for this year (2010) when I buy an house this month for only $5k for a fix and flip in May 2011?
Thanks.
-Uwe
Bob Taurence
Exempt from Depreciation Recovery
I was told by a CPA that my 15 year residential rental property will not be subject to 'recovery' since it was bot 2/08/84. It is fully depreciated. He said entire gain will be taxed at 15% cap gain rate. Is this ...
Dick M.
depreciation on vacant house?
I'm thinking of buying a house I won't be able to fix up til next year to get it rented, can I claim depreciation on it this year??
Steve Young
Real property depreciation question
Hello, I purchased a house as residential rental and started depreciating the property over 27.5 years with cost basis of $100,000. According to the depreciation rate table in the IRS form 4562 instructions, the dep...
Michael Redmon
Depreciation? Wore out early
I’m confused, if a depreciating asset wears out early. Carpet is depreciated over a five-year period, what happens if your tenant destroys it in year two? Do you take the rest of the value of the carpet and depreciate...
Bobby Esposito
Experience with Accelerated Depreciation?
Started working with a new firm that takes advantage of accelerated depreciation. Seems like a very interesting concept and was wondering if anyone has any experience with it?Basically depreciating a house over 5 year...