Quick question for real estate investors

Sri S.Business Member
Dublin, CA · Member since 2024 · 40 posts · 19 votes
17h
Great question, William! This is exactly the kind of information investors should have readily available, rather than digging through years of tax returns to find it.
That's one of the reasons we built Revenli. We track property-level depreciation, accumulated depreciation, and cost segregation deductions, so investors can see their depreciation history and the information needed to determine their adjusted tax basis in one place.
It also makes life easier for CPAs when it's time for tax planning or selling a property.
Curious, William — how often do you see investors struggling to reconstruct their property's depreciation history from prior-year returns?
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Diana Khan
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 317 posts · 119 votes
15h
Quote from @William Thompson:
Quick question for real estate investors:
Do you know the adjusted tax basis of every property you own?
Not the current market value.
Not what Zillow says it’s worth.
I mean the number your CPA uses when figuring depreciation and eventually your gain or loss when you sell.
A lot of investors know their rent and property value down to the dollar.
But ask them for their adjusted basis and…

Do you know yours?
What’s one number in your real estate portfolio you probably should know but don’t?
@William Thompson, this is such a good question. From the legal and closing side, I’ve seen investors keep great records on rent and expenses but have to dig years later for old settlement statements, improvement records, or documents tied to how the property was owned.
That usually becomes much more important when they are getting ready to sell, refinance, or work through an estate plan. I always like seeing the tax records and legal records stay organized together instead of trying to rebuild the history at the end. I really like conversations like this because the numbers investors ignore in the beginning are often the ones that matter most later.
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Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
10h
It's always included in the tax returns I give to clients. You can find it on the depreciation schedule if your accountant includes!
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