Determining Basis of Depreciable Property
I am working on my financial model and came across depreciation. I found IRS Publication 527 to help with this. However, I was wondering if anyone had any specific examples of dividing the value of the land and building on the property to determine the basis in your asset that can be depreciated. Obviously, you want the land to be worth as little as possible and the building to be worth more so you can have great tax benefits. Maybe this is a very straight forward process but any thoughts are appreciated. Thanks!