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Rainmaker
5,571,848
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

once you're licensed, you can join NAR and enroll in the GRI designmation program.....if I remember correctly, they touched upon this topic...

Aug 27, 2018 11:02 AM
Rainmaker
2,023,850
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Residential over 27.5 years 

Non Residential over 39 yrs. 

Aug 27, 2018 11:24 AM
Ambassador
3,054,860
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

That is a great question for a CPA.  

Aug 27, 2018 12:51 PM
Rainmaker
1,735,612
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Ask your CPA.  This is one of the amazing benefits of owning investment real estate. 

Aug 27, 2018 11:13 AM
Rainmaker
1,215,530
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

Residential 27.5 years

Commercial  39 years

Land never depreciates

Aug 27, 2018 08:09 PM
Rainmaker
5,583,769
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Daniel,

Like Carol Williams mentioned, talk to your CPA.  They can educate you on this subject.  We are not the ones with the expertise as this is a tax matter. A

Aug 27, 2018 11:50 AM
Rainmaker
4,040,390
Richard Weeks
Dallas, TX
REALTOR®, Broker

That is a great question for a CPA or tax attorney.

Aug 27, 2018 11:51 AM
Rainmaker
848,841
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

My example is not interesting , YouTube may help here.

Aug 27, 2018 11:15 AM
Rainmaker
6,604,383
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Take a look at the IRS website.

Aug 27, 2018 04:55 PM
Rainmaker
1,919,284
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Consult with your local Tax Advisor or Real Estate Attorney.

Aug 27, 2018 04:51 PM
Rainer
325,972
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

You can do straight line or double declining, maybe even sum-of-years method if your accountant will do it.

Google is another great source for things like this, if you do not want to speak with your CPA or attorney.

Aug 27, 2018 03:08 PM
Rainer
272,175
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

while I do have a basic knowledge I don't answer those questions for clients, I refer them to an accountant or CPA for their answers.

Aug 27, 2018 03:05 PM
Rainmaker
1,386,873
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Talk to your accountant/CPA for depreciation details.  Residential is over 30 years and commercial is 35 I believe.  It's covered briefly in the exam cram course but wasn't tested on out here.

Aug 27, 2018 12:50 PM
Rainmaker
556,338
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Your CPA is the expert here.

Aug 27, 2018 12:17 PM
Rainmaker
4,207,135
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Your CPA, attorney, YouTube or just google it!

Aug 27, 2018 11:58 AM
Rainmaker
2,062,514
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Daniel, I have not examples. 

Aug 27, 2018 11:36 AM
Rainmaker
1,153,400
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

improvements only... They rot over time.

Aug 27, 2018 11:34 AM
Rainmaker
4,936,642
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I would refer to my CPA for the answer.

Sep 03, 2018 06:13 AM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Daniel Lloyd - I did not know - good answer from Michael J. Perry

Aug 28, 2018 09:59 PM
Ambassador
3,986,710
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

My accountant handles that so don't need to worry though I do know the years for residential and commercial.

Aug 28, 2018 08:40 PM
Rainmaker
4,433,683
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No.

Aug 28, 2018 01:59 PM
Rainmaker
3,985,855
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Above my pay grade

Aug 28, 2018 10:53 AM
Rainmaker
1,596,586
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

All good anwers, Daniel. 

Aug 28, 2018 10:06 AM
Rainmaker
1,707,423
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Take CRS 204 after you are licensed.

Aug 28, 2018 07:28 AM
Rainmaker
4,799,481
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

As allowed by law.

Aug 28, 2018 06:29 AM
Rainmaker
3,330,828
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It is most important to have a cpa show you how it works, what numbers to use and what it means. The one thing no one thinks about is how it affects you when you go to sell it. You pay now or pay your tax later. but you always pay

Aug 28, 2018 04:51 AM
Ambassador
4,578,739
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Good question for a CPA!

Aug 27, 2018 08:43 PM
Ambassador
3,038,800
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

while I could explain it in detail to you, I won't.  I also don't explain it to clients who buy investment properties, I tell them to talk to THEIR CPA about it.

Aug 27, 2018 08:35 PM
Rainmaker
1,229,123
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Tax question, I'm a REALTOR taking the 5th.

Aug 27, 2018 06:53 PM
Ambassador
5,407,022
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I see that several have touched on this below, a good start, but you should dig deeper into this and contact a professional.

Aug 27, 2018 05:02 PM
Ambassador
2,570,477
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  Have a working knowledge, but send your people to a CPA or tax attorney.  

Aug 27, 2018 04:21 PM
Rainmaker
3,464,783
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Daniel Lloyd contact your CPA, or IRS.

Aug 27, 2018 03:38 PM
Ambassador
4,256,037
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Speak to your Tax attorney or CPA.

Aug 27, 2018 02:48 PM
Rainmaker
910,446
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Depreciation is one of the advantages of owning investment real estate. You write off depreciation as an expense but it does not cost you any cash…thereby lowering your taxable income. Buildings are depreciated but not the land they sit on or bare land. For additional info, talk to an accountant, CPA, or tax professional.

Aug 27, 2018 01:50 PM
Rainmaker
4,114,531
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Depending on what you are looking for, that's up to an accountant to do or an appraiser.

Aug 27, 2018 01:47 PM
Rainmaker
527,095
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Your CPA will explain it to you.

Aug 27, 2018 01:29 PM