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Investors & landlords
Thank You Dianne,
Item 1 (tax ratio); it is clear.
Item 2 (depreciation); I have more questions.
Background
I purchased "Property A" on May 28 of 2010 (30 yr), refinanced May 30 of 2012 (30 yr), and refinanced again Aug 24 of 2016 (15 yr).
Question (s)
1.) Can I depreciate the "closing costs" of these "intangible assets"? If yes, then would each one be a separate item with its own useful life? For example, 2010 mortgage would have a useful life of 2 years. 2012 refinance would have a useful life of 4 years, and the 2016 refinance would have a useful life of 15 years.
2.) When depreciating the solar panels and back-up battery, does it have to be rolled it into the house? Or can it be a separate item (classified as an "Applicance") with useful life of 5 years?