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Cost Segregation effect on Standard Deduction
Hi, I make less than $100k from my w2 job and did a cost segregation study on my property. My understanding is that I can deduct up to $25k from my w2 income. Does that mean I can’t take the standard deduction?
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
- Houston, TX
Standard deduction is personal. Rental losses are business. They are not related. You can take both.