Writing off Depreciation Expense

[Saad Handoo]

I read somewhere that you can write off on your taxes a certain portion of your income if the property is younger than 27.5 years (or something to that tune). I recall there being something about a 10K threshold. 

Maybe I am misinterpreting the Tax rule here, but does it essentially mean (on newer properties) your first 10K is essentially tax free?

[John Thedford]

Residential property can be depreciated over 27.5 years. Commercial property is 39 years. These can be paper losses rather than cash out of pocket expenses. When you sell, unless you 1031, you have to recapture the depreciation. Find a good CPA if you start investing.