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February 9, 2022
Question

My LLC purchased a piece of property that does not currently have a dwelling. Does this property get listed as an asset? And if so, what category does it go under?

  • February 9, 2022
  • 1 reply
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1 reply

AliciaP1
February 9, 2022

No, since Land is not a depreciable asset, you do not enter it separately as an asset.   

 

For more information on Depreciation see What is depreciation?

 

 

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