You'll need to sign in or create an account to connect with an expert.
1. Determine your property's cost basis. Typically, the basis is what you actually paid for the property, including all closing costs..
2. Allocate your basis between the depreciable condo, and the non-depreciable land on which it sits.
3. Divide the property's cost basis by 27.5 to find your annual depreciation allowance.
1. Determine your property's cost basis. Typically, the basis is what you actually paid for the property, including all closing costs..
2. Allocate your basis between the depreciable condo, and the non-depreciable land on which it sits.
3. Divide the property's cost basis by 27.5 to find your annual depreciation allowance.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
newlifeems
New Member
vanessaocampo294
New Member
eugenesuh1
New Member
emorelmedia
New Member
blugecko333
New Member