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#1
01-05-2004, 01:21 AM
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 Re: owner occupied triplex analysis question "Arthur L. Rubin" <ronnirubin[at]sprintmail.com> wrote: - quote - > Scott wrote:
Thanks, Arthur. Appreciate the help. > > so i bought my first rental property this year (a triplex), > > and i've been studying real estate taxes a bit ... now i'm > > putting up my arm chair analysis up for review > ... > > can i expedite my deductions by section 179'ing certain > > expenses > No. Rental property is specifically disallowed for section > 179. New improvements (not considered part of the structure > or 27.5 year property) may be allowable for 30% or 50% bonus > depreciation. (I said MAY -- I think they normally are, but > other regulars disagree.)  << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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12-26-2003, 04:06 AM
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| Re: owner occupied triplex analysis question Scott wrote: - quote - > so i bought my first rental property this year (a triplex),
No. Rental property is specifically disallowed for section> and i've been studying real estate taxes a bit ... now i'm > putting up my arm chair analysis up for review .... > can i expedite my deductions by section 179'ing certain > expenses 179. New improvements (not considered part of the structure or 27.5 year property) may be allowable for 30% or 50% bonus depreciation. (I said MAY -- I think they normally are, but other regulars disagree.) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
12-22-2003, 10:41 PM
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| owner occupied triplex analysis question so i bought my first rental property this year (a triplex), and i've been studying real estate taxes a bit ... now i'm putting up my arm chair analysis up for review 1) expenses mortgage, mortgage insurance, home owner insurance, etc. would be prorated based on how the building is used ... ie. if i use 1/3 of the triplex to live in, the other 2/3 are schedule E expenses 2) depreciation using component depreciation w/ the purchase price (+related cost of obtaining the property?) as my basis, i would prorate the land and building (personal use vs business use) but for 5 yr personal property, i would do that on a per unit basis? can i expedite my deductions by section 179'ing certain expenses and/or can i section 179 a portion of the purchase price? i would think that i can, but i'm wondering if there are certain exceptions when the property is also occupied by the owner and some obscure tax law says that i can't prorate questions? comments? thoughts? opinions? A for effort, D- for content? cheers, Scott << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| analysis, occupied, owner, question, triplex |
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