Determining Depreciation Write Off

[Christopher J Lemmon]

I have 2 SFR that were purchased and placed into service this year. I have one more that was a personal residence that I placed into rental service at the beginning of this year. How do I determine what the depreciation basis for these properties is? Is it a 90/10 split? 85/15? Do I need to look it up on the county records? What are the rules? The first time I did this the tax advisor who was advising me simply said it's always a 90/10 split but I want to hear what other people think?

[Greg Scott]

90/10 is just a rule of thumb.  It may make sense for where you live but if you have waterfront property in California, the land is probably worth more than the house. There it might be 50/50.