Hi Everyone
I posted a message about amt taxes , and if i had a llc would this help me , someone answered back that i should deprecate my house over 39 years instaed of 27.5 is this possable and if it is how can i change it now i have been depracating somehouse over 5 years now.
Thanks
Once you started depreciating at 27.5 year, I don’t think you can switch to something else. Unless, you have a CPA like the one who fired me when I complained that he’s got my depreciation done all wrong, said to me “who’s going to look”.
Unfortuanately, there’s some truth to that.
As to the 27.5 years versus the 39, 27.5 is the minimum. but you can depreciate even at 100 years if you like, or any number in between, so long as it’s not less than 27.5.