I have an LLC.
A business partner purchased a property for my business.
I operate my business in the said property.
I leased the said property for 30 years from the business partner/property owner and the business partner/property owner and I agreed that I can take the depreciation on the property instead of him, since we have a 30-year lease.
A couple questions
-Can I claim the depreciation on the property? The owner said he will NOT claim any depcreciation if I do so there will not be any double dipping on the property and he said this is likely possible if we contractually agreed to it
-I would like to use a cost segregation study to accelerate the depreciation, is there anything preventing me from doing this given the above set of circumstances?
