I have a property that I purchased in the middle of this year that I am finishing a cost segregation on (a furnished STR) that was expensive enough that I hope to wipe out what will otherwise be a significant tax bill this year. I believe the bonus depreciation is going to get me there - but my question is this: will the bonus depreciation be reduced by the months I did not own the property/have it in service in 2022? I know that in years past my property purchases on the 27.5 depreciation schedule always seemed to be reduced in year 1 by whatever time frame it wasn't in service: i.e., a rental house put into service on October 1 only seemed to get me 25% of the regular depreciation credit for that year.
The property I bought this year went into service at the beginning of July so essentially 6 months of this year. Thanks all in advance!
Yes, I can claim RE pro since a few years ago. Did not realize it needed to be on a 39 year depreciation schedule, so that even makes this better as without the cost segregation I was going to get an even smaller depreciation than I thought!