Hey all,
If you attended the meetup last night - you know that I am under contract as of yesterday for a duplex in TX.
I asked my Cost Segregation guy to give me an estimated Cost Segregation to give me an idea of what I could claim for Bonus Depreciation this year for this duplex.
Here is what he sent me.
I can claim close to $87,000 for bonus depreciation for this property. Since I'm closing at the start of December, I'll only have about $4000 of total rental income collected.
Meaning I'll be reporting close to $90,000 of passive losses from this one property - which should reduce my taxable income by $90,000 - and saving me about $35000 in taxes this year from this one property.
Just thought I'd share!
LETS GET SOME DEALS DONE THIS YEAR!