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Old 08-15-2003, 01:24 AM
Mark Rigotti
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Default Re: question on rental property depreciation

"Jason" <jasonnews[at]mail.com> wrote:

- quote -

> I've got a question. If I buy a rental property that I keep
> for say 10 years. The homes in my area are very old and need
> updating. I usually spend about the 1st few months
> renovating the house to be livable and then do a major
> project once every year when the tenants move out. Say
> renovate a bathroom one year. The kitchen the next, new
> windows the next. ect. ect.
> My question is am I required to depreciate each improvement
> on it's own schedule? or can I just depreciate the property
> on the starndard 27.5 yr and then just deduct the
> improvements when I sell the house?


Jason,

Each would require a separate set of depreciation calculations.

--
Regards,

Mark X Rigotti

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Old 08-15-2003, 12:45 AM
Dave Woods, EA
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Posts: n/a
Default Re: question on rental property depreciation

"Jason" <jasonnews[at]mail.com> wrote:

- quote -

> I've got a question. If I buy a rental property that I keep
> for say 10 years. The homes in my area are very old and need
> updating. I usually spend about the 1st few months
> renovating the house to be livable and then do a major
> project once every year when the tenants move out. Say
> renovate a bathroom one year. The kitchen the next, new
> windows the next. ect. ect.
> My question is am I required to depreciate each improvement
> on it's own schedule? or can I just depreciate the property
> on the starndard 27.5 yr and then just deduct the
> improvements when I sell the house?


Actual real property improvements are always capitalized and
depreciated and not deductible.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
  #-1  
Old 08-13-2003, 12:12 PM
Jason
Guest
 
Posts: n/a
Default question on rental property depreciation

Hello,

I've got a question. If I buy a rental property that I keep
for say 10 years. The homes in my area are very old and need
updating. I usually spend about the 1st few months
renovating the house to be livable and then do a major
project once every year when the tenants move out. Say
renovate a bathroom one year. The kitchen the next, new
windows the next. ect. ect.

My question is am I required to depreciate each improvement
on it's own schedule? or can I just depreciate the property
on the starndard 27.5 yr and then just deduct the
improvements when I sell the house?

THanks

j

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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depreciation, property, question, rental
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