OK, so I'll enter them in a separate Asset Worksheet. I decided to code them as F - Rental Furnishings. But what does the 1031 status have to do with this? Are you referring to the additional bonus depreciation offered by the 2017 TCJA? The accountants who prepared a Cost Segregation Study that I'm basing my depreciation on did mention that, but they of course were vague because they can't give tax advice. Language from their report is below.
Thanks!
In addition, the Tax Cuts and Jobs Act of 2017 provides for additional bonus depreciation of up to 100% of certain property placed in service and acquired after September 27, 2017. These provisions may provide additional benefits to investors, especially those not following a 1031 exchange transaction. Details concerning such amounts are provided in the full report of the cost segregation study prepared by MS Consultants, LLC and should be brought to the attention of the investor's tax and legal advisors for further consideration.
Please note: The illustration provided above is general in nature and is intended for educational purposes only. Details surrounding any investment in DST interests should be provided to your own tax and legal advisors for advice and guidance regarding your particular situation.
