Thanks Amy.
Just want to confirm, this is not "missed depreciation" since it is the first year of this expense and I have not filed the return yet. Do I still need to file a 3115 if I haven't filled for the first year yet?
You also mentioned that I would add as a miscellaneous expense, but what exactly do I add?
- I have the home as an asset now with a depreciation of $2,683. Do I remove that or keep it?
- Cost = $375,000
- Land Cost = $16,300
- What do I add for the Misc expense?
- The Cost segregation has the "total included in study is equal to purchase price less land value" as $262,058.35 (73%)
Thanks in advance,
Brian
