@hudson4351 wrote:
what is the difference between a "property" and "real estate" in the context of your post?
Property is anything that you own, such as a refrigerator, a hammer, a house. Real estate is land and generally items permanently attached to it (such as a house).
The Regulation I was referring that does not allow depreciation when "placed in service" and taken out of service is for Half-Year and Mid-Quarter conventions (which deals how items are depreciated the first and last year). But real estate (in tax terms, Section 1250 property), does not use the Half-Year and Mid-Quarter convention (it uses the Mid-Month convention), so that Regulation I referred to does not apply to real estate.
