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Level 1
posted Nov 24, 2018 9:18:13 PM

Type of real property

Abason inc is a C corporation. It buys houses and rent them out. It has 5 houses and all of them are rented to different families. My question is "are these houses considered as residential real property or nonresidential real property? What is the period for depreciation (27.5 or 39 years)?

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1 Replies
Level 15
Nov 25, 2018 6:18:23 AM

This is quite obviously a homework question.  You'll find your answer in IRS Publication 527 which you can find with your friend, google. But note that who owns the rental property is irrelevant. Residential Rental Real Estate is Residential Rental Real Estate, regardless of who or what entity may own it. Ownership is irrelevant. It's use is all that counts.