OohPooPahDoo
Gold Member
Since we bought a duplex in the "Gulf Opportunity Zone" this past year, we can elect a bonus depreciation of 50% of the value of the rental side - or 25% of the value of the house.
So according to the IRS, I took a 25k loss this year on rental property. Next year will also be close to that as there is plenty loss left to carryover!
Woo hoo!
So according to the IRS, I took a 25k loss this year on rental property. Next year will also be close to that as there is plenty loss left to carryover!
Woo hoo!