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Jane Hankins's profile image
Jane Hankins's profile image
Jane Hankins
  • Investor
  • from San Jose CA
  • Member since Sep 9, 2021

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Jane Hankins's profile image
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Jane Hankins
  • Investor
  • from San Jose CA
  • Member since Sep 9, 2021
Jane Hankins
  • Investor
  • San Jose CA
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Tax, SDIRAs & Cost Segregation

Calculating depreciation without a breakout for land vs bldg/impr

Jane Hankins
  • Investor
  • San Jose CA
Posted

I bought a short term rental property in Walton County Florida. My property tax assessment doesn't show a breakout for the land vs building/ improvements. I've used that breakout to help calculate depreciation on my California properties. I'm a bit confused on how to handle depreciation on this one. Any ideas? I'll talk it over with my CPA closer to filing time, but I'm curious for some insights now if anyone can share.

Thanks!

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Ashish Acharya's profile image
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Ashish Acharya

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Ashish Acharya
#1 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • FL
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Ashish Acharya
#1 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • FL
Replied
Originally posted by @Jane Hankins:

I bought a short term rental property in Walton County Florida. My property tax assessment doesn't show a breakout for the land vs building/ improvements. I've used that breakout to help calculate depreciation on my California properties. I'm a bit confused on how to handle depreciation on this one. Any ideas? I'll talk it over with my CPA closer to filing time, but I'm curious for some insights now if anyone can share.

Thanks!

Any reasonable methods would be accpetable. Just do not be too greedy :). 

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