- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Help me understand depreciation on a rental property
Posted on 10/13/23 at 1:43 pm to Thundercles
Posted on 10/13/23 at 1:43 pm to Thundercles
Some good answers in here.
Building is depreciable, land is not. There are a few ways to do this.
1) Get an appraisal to look at it and determine. Almost no one does this especailly for single family residential.
2) Your tax assessor may have an allocation, so you can use the same pro-rata percentages against your total value at the time you place the property into service as a rental.
3) Allocate 80% to building and 20% to land. This is what most people do.
quote:
The actual value of the house differs from the land, correct? If so, how does one deduce the value of the house?
Building is depreciable, land is not. There are a few ways to do this.
1) Get an appraisal to look at it and determine. Almost no one does this especailly for single family residential.
2) Your tax assessor may have an allocation, so you can use the same pro-rata percentages against your total value at the time you place the property into service as a rental.
3) Allocate 80% to building and 20% to land. This is what most people do.
0
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News