Cost Segregation Study - Partners in LLC EACH get 25K Loss Limit?

[Daniel Dietz]

Hello All, 

I have been reading up on Cost Segregation Studies a bit. I hold most of my properties in 3 way LLCs. If the LLC has a Cost Seg. Study done and it comes up with say 90K of depreciation for a 75K 'loss', can EACH of us use the 'up to 25K loss exemption against ordinary income' for a total of the 75K? The LLCs are set up to issue K-1s and we ARE all eligible currently to use that exemption, it is just that our 'paper loses' are MUCH smaller at this point.

Thanks, Dan Dietz