Understanding Depreciation Tax
Hey everyone, hope all is well with you! I just want to make sure I'm getting the depreciation tax write off correct. Let me give an example to see if I got this right. If I have a property worth $300,000 and land is worth $50,000 I would then have a taxable property of $250,000 divided by 27.5 which would be around $9,090. Would that be my tax return as far as deprecation is concerned and would that be every year for the 27.5? Thanks again in advance for the help.