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RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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I plan to buy a motel in 2010 Novemeber with total cost of

Customer Question

I plan to buy a motel in 2010 Novemeber with total cost of 2.8 million. Motel was initially built in 1986. Is it possible to perform cost segregation study on property built prior to 1987?
If cost segregation study shows value of tangible property with half life of 3,5,7,10 or 15 years to be in range of 500-700K, Is it possible to get section 179 benefit and bonus depreciation benefit on that cost ?
Will 50 percent bonus depreciation be full 50 percent or prorated for remaining year?
Submitted: 6 years ago via Cornell Legal Info Institute.
Category: Tax
Expert:  RD replied 6 years ago.
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RD :

If you are buying a motel - how is the purchase price going to be allocated between various assets?

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