Cost segregation study when property under personal name

[Eduardo Sagues]

Hi, I'm buying a rental in GA with a partner. Both names on the title. We will remodel it and hold. The property is under our name, not under an LLC. Can I do a cost segregation study?

thanks

[Michael Plaks]

@Eduardo Sagues

The starting point of this discussion is to figure out who owns the property for tax purposes, which is not necessarily the same as the names on the title or on the loan. This takes a careful analysis of your arrangement with your "partner" - who may or may not be your partner for tax purposes.

Cost segregation can then be done by the owner. Whether it's you, shared 50/50 or a partnership - this is unclear until determined.