Hello... I did a Cost Segregation Study on all four of my rentals recently. I have been depreciating the properties over the last two years but after doing some research, I've realized I have to use Form 3115 to claim the bonus depreciation?, but that's how much I know in this department... Since I've previously depreciated the property (normally), now I have more questions than before like: Do I have to file (create) forms 4562 for every allocated component of the Cost Segregation Study?.. Or can I just do a "Lump Sum" of the over all dollar amount the Cost Segregation Study generated?.. Or is it a "Lump Sum" per Class Year (5, 7, 15,or 20)? And last but not definitely least... which method will I be using for accelerating the depreciation?.. (Sec 179, Bonus Depreciation, Special Depreciation)?... OR DO I EVEN NEED FORM 4562 WHITH MY COST SEGREGATION STUDY? Furthermore, does the Cost Segregation Study Report needs to be submitted (attached) to my 1040? I know... too many questions.. but some how I feel they are all in one if I wanted to file Form 3115 this year with my taxes... Thank you very much and sincerely appreciate your help... SEMI
