Cost Segregation on taxes and applying for Jumbo Loan for Primary
Hello,
I am in the middle of doing a cost segregation study on a property I purchased which will be on my 2021 Taxes. I am also about to apply for a mortgage for a primary residence in Florida. I know depreciation gets added back in as income but wasn't sure if about $400k of depreciation in one year from a cost seg would be all added back as income in 1 year as well? I have called the brokers I know and none of them have ever dealt with a cost seg and that much depreciation in one year being shown on a tax return before.
Any help would be much appreciated.
Mike