Cost segregation question

[Scott Esmail]

I own a 58 unit and closed this May 2022.

Can I do a cost seg study at any time/year while owning the property or does it need to be done in the first tax year of owning the property ?

I am not sure if I am keeping this property so I do not want to rush out and do a cost seg until I have for longer and get a better feel for it.

[Kim Meredith Hampton]

@Scott Esmail Not sure exactly, but our CPA has always done them in the first year to take advantage of the tax benefits. We always want as many write offs as we can get😂