- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
I don't have an opinion but agree with @Opus 17 , @AmeliesUncle is very accurate, reliable, clear and concise. The fact that he has referenced the source and states that he has read the regulation, makes me confident he's right.
At first, it seems too good to be true and open to abuse. But note that it's the adjusted basis (including reduction for the depreciation already taken, I assume) that you depreciate . When the taxpayer sells he'll have that much more depreciation to recapture (unless he out foxes the IRS by dying first).
‎January 28, 2021
5:15 AM