All Forum Posts by: Eric Wright

Can I ask if there are any updates to how this project has turned out for you?

Any update to how this turned out?

Hi Nicholas! I just came across this forum now, what a wonderful resource this is. Reading some of your great responses made me want to ask something I've been wondering about. So here's my question:

I work and pay taxes abroad, so all of my earned income is exempted by the IRS under the tax treaty. I made my first real estate purchase earlier this year, and while it is thankfully doing well so far, I'm fairly certain that the total profits will be below the minimum tax deduction of $12,400 or whatever it ends up being. Since I don't think I will need it, can I delay starting the use of the 29.5 years of depreciation? Or must I start claiming that from year 1 of owning a rental property?

Thank you!!

Hey @Account Closed I just came across this thread and I'm wondering if you ever made a purchase. I'm also curious if you used financing and how you went about getting approved if you did.