1031 depreciation schedules for Improvements do they forward?
Hi I'm going to be doing a 1031 exchange soon
I wanted to ask and make sure
If I did about $30,000 in improvements being depreciated over 7-10 years on my old downleg property
Would this be forwarded to the Depreciation shcedule for the new property so that I could continue writing off the $30,000 in improvements on the new upleg property?
Most Popular Reply
Eamonn McElroy
#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
- 1,764
- Votes |
- 1,982
- Posts
Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Atlanta, GA
I would be more concerned that you're using an impermissible method of depreciation.
What kind of improvements are depreciated over a 7-10 year life?