Delayed Cost Seg study

[Nic S.]

For the record, I am consulting with my CPA currently who is doing the due diligence on this topic.

I purchased and placed a long term duplex in service in 2020. Does anybody know the rules on completing a cost segregation study for 2022 tax year on this property?

I understand that you must amend your previous tax returns, my wife is currently a real estate professional status.

[Jeff Nash]

You don’t have to amend prior tax returns but a change in accounting method (Form 3115) and catch-up adjustment (481(a() would need to be calculated and reported.