Leverage, the STR tax deduction through cost segregation. Do I need to own the property fully? Can I win the property 50% with the partner?
If I can, own partly), does that mean that I also only get 50% off the deduction from the cost segregation?
I buy the property in October do I only need to show 750 hours Prorated for three months in the year to leverage, the benefit?
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So I am assuming that you are trying to own a property 50% with a partner (which of course you can) and you want to use it as a short term rental and you want to be treated as a real estate professional for 2023 even though you only had the property for the final three months of the year.
Yes, if you split the property with a partner you would put 50% of the income and expenses on your return and they would do the same on theirs.
There is no mechanism to prorate the 750 hours. But if you're a real estate professional then you are.
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