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I am a treasurer for a property owner's association in
I am a treasurer for a property owner's association in Colorado. We have approximately 10 miles of paved roads that were built in a three-time events. The oldest section of the road was built in 2004.… read more
Lev
Lev
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Tax question. It is about depreciation of rented property
tax question JA: Have you talked to a financial professional about this? Customer: no JA: Anything else you want the Accountant to know before I connect you? Customer: it is about depreciation of rent… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I've a client constructed a building and fixtures exactly as
Hi Barbara: I've a client constructed a building and fixtures exactly as requested and or by the designer of the the Lease Hold Tenant. Can we claim Bonus depreciation on the qualified assets used in … read more
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Another question: I've constructions costs including land.
Hi Barbara: Another question: I've constructions costs including land. The project is not ready yet for the TY 2017. I've multiple properties being shown in Sch E. 1. How should I show this WIP projec… read more
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A corporation paid for a land improvement. Normally this
A corporation paid for a land improvement. Normally this would be capitalized and depreciated over a 15 year life, with bonus allowable. However, the corporation does not own the land; they rent the p… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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Robin, If you recollect, some time back I checked with
Hi Robin, If you recollect, some time back I checked with you regarding bonus dep for tax year 2013 and 2014. I understand we can claim bonus depreciation and/ or 20 yrs or less on the following: 1. F… read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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Robin Where do we report the additions (value) to the
Hi Robin Where do we report the additions (value) to the asset from ther last year tax return while compiling this year tax return. I did not find any place in asset entry sheet to include the additio… read more
Robin D.
Robin D.
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Rental property (I am the landlord), on 1040 is it better
For a rental property (I am the landlord), on 1040 is it better to have the house depreciate or should I do 179 Deduction. I appreciate your help.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
21,947 satisfied customers
States that my rental property's depreciation starts when
http://www.irs.gov/publications/p946/ch01.html#en_US_2013_publink1000107327 states that my rental property's depreciation starts when it makes income. Also, I can depreciate any capital improvements I… read more
Lev
Lev
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Bachelor's Degree Equivalent
31,926 satisfied customers
We have 2 trucks to depreciate . Can I use bonus deprec
We have 2 trucks to depreciate for 2014. Can I use bonus deprec if we did not purchase one of them on 2014?… read more
PDtax
PDtax
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Can you bonus depreciate motel room renovations as a separately
Can you bonus depreciate motel room renovations as a separately stated item, NEW item, or do you have to take the cost segregation approach, and depreciate quicker through shorter class lives.… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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Robin, I bought my house in 1985 and I have done major
Hi Robin, I bought my house in 1985 and I have done major renovations in 2005 and then again in 2013-2014. I would like to make sure I know what documentation I need to have to be able to justify the … read more
Robin D.
Robin D.
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lev, when congress passed the 179 expensing for 2014, were
lev, when congress passed the 179 expensing for 2014, were other things like the mortgage insurance premiums deduction and energy credits extended. I know the direct donation from retirement to charit… read more
Lev
Lev
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Bachelor's Degree Equivalent
31,926 satisfied customers
Dear Megan, I purchased about $50K worth of equipment for my
Dear Megan, I purchased about $50K worth of equipment for my ice cream store in 2014. I have heard that IRS and Govt has approved to take 100% depreciation for new eqipmnet purchases in 2014. It was o… read more
Robin D.
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As an investment we purchased as individuals raw land on both
As an investment we purchased as individuals raw land on both sides of a Montana river in 1996. The property was divided in 2005 and 1/3 sold profitably. We are experiencing serious bank erosion issue… read more
Robin D.
Robin D.
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I have a form 4562 question (my first return with a rental
I have a form 4562 question (my first return with a rental property). We are leasing our home purchased years ago in Australia whilst we live in a rented home in another city in Australia (we are dual… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I HAVE A CLIENT WHO HAD ABOUT 50,000 DOLLARS IN DOZING DONE
I HAVE A CLIENT WHO HAD ABOUT 50,000 DOLLARS IN DOZING DONE ON HIS FARMS. IS DOZER WORK ELIGIBLE FOR THE SPECIAL DEPRECIATION?THANKS… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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We are a property management company and are trying to offer
We are a property management company and are trying to offer some direction to the owners of the properties we manage. We are not accountants, so we don't want to give tax advice, but we want to provi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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