Depreciation Question - Multifamily
Hello everyone
I am purchasing a multifamily property in a couple weeks and I am wondering - how much depreciation expense can I take in the first year (2015 tax year)? Since I am closing in late November, will I only be able to take 1 month worth of depreciation (calculated at the improved value over 27.5 years)? Or will I be able to claim a larger amount this first year?
Thanks!