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Investors & landlords
The cost basis for determining depreciation is the **LESSER*** of
A) It's FMV at the time the property was placed in service
B) What you paid for it, plus the cost of any property improvements you paid for.
99% of the time, item B is the lesser.
A) It's FMV at the time the property was placed in service
B) What you paid for it, plus the cost of any property improvements you paid for.
99% of the time, item B is the lesser.
‎June 5, 2019
3:27 PM