cost seg if bldg owned < 1 year?

[Sanjay Sharma]

I purchased a property this year with intention of renting. Someone offered me a price to purchase, so I sold it.  Owned it for 8 months.  I think I read somewhere you have to own the property for > 1 year.  Am I correct that I can't segregate?

@yonahweiss

[Michael Le]

Originally posted by @Sanjay Sharma:

Originally posted by @Michael Le:

You have to recapture the depreciation at the time of sale anyway so there is no point now.

 Prior to the sale, was it possible to do the cost seg?  

As far as I know there is no rule that says you have to own it more than 1 year. You might have misheard that it's not 'worth it' unless you own more than a year. I do my cost seg immediately when I buy a property so my investors and I can take advantage of depreciation in the same year we bought the deal.