Tomorrow I will be setting up the DST's that I purchased from the proceeds of the sale of rental property on depreciation schedules. I hope it will not be too difficult. I understand you have to set up assets for each DST, and take the information provided by the sponsors (I hope it is adequate) re the buildings and land. All are commercial rental properties and I don't think they have any personal property and give you no further breakdown other than building and land.
If any of you have experience in setting these up your input would be appreciated.
In retrospect, I would have bought fewer of them, and some will require state income tax returns. I bought them late in the year so I had no income until 2019, however I think I have to set up the depreciation schedules on the 2018 return though there will probably be no depreciation for 2018 as they were purchased after 12/15. Yes, I will have to attach a summary of how I allocate the basis from the 8824 which is ridiculously low due to previous deferrals.
