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August 22, 2024
Question

Rental Property built after 1987 Depreciation Schedule

  • August 22, 2024
  • 1 reply
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We care considering to buy an investment property built in 1982.  Once we purchase it, can we claim depreciation of 3.633% for the next 27.5 years?  

 

 

1 reply

August 24, 2024

If it is Residential Rental Property in the US, yes, after it is "placed in service" (ready-and-available to be rented), you can depreciate the building and improvement for 27.5 years (you can't depreciate the land), assuming it is rented for long-term rentals.