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Tax, SDIRAs & Cost Segregation

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Rik Hunter
  • New to Real Estate
  • Chattanooga, TN
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73
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Depreciation, some questions

Rik Hunter
  • New to Real Estate
  • Chattanooga, TN
Posted Jan 16 2021, 12:15

The backstory is that I bought a duplex in 2014, and I've taken depreciation on something at some point in some way in TurboTax, lol. This year I did lots of rehab, mostly interior, and I've been trying to be much better at bookkeeping.

Since April, I've rehabbed both unit, included new appliances, and I just finished "The Book on Tax Strategies." I knew the chapter on depreciation would be important, but I'm still a little confused, and I'm pretty sure I'll need to find a REI-friendly tax specialist this year.

But basically, while taking depreciation on the building, how do you also take depreciation on items like appliances and flooring? 

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