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Investors & landlords
No, you can't take section 179 or bonus depreciation on residential real estate UNLESS it is a business. And since this sounds like it is your only rental property you probably don't qualify to use your rental property as a business.
Section 179 requires that the rental property be a business, bonus depreciation requires that the item have a useful life of less than 20 years.
Here is a discussion about the rules to qualify your rental property as a business.
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ā€ˇFebruary 6, 2025
9:58 AM