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Does the capex depreciation follow a new owner?
Hello!
So my question is , lets say a property had a capital expenditure which they were allowed to depreciate over 15 years. 5 years later the property is sold to me.
Do I inherit the next 10 years of depreciation tax benefits from the cqpital expense of the previous owner?
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Chris Soignier
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Chris Soignier#5 Coronavirus Conversation Contributor
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No - depreciation schedules start over whenever a property changes hand.