Book Value and Depreciation - Building
- Thread starter Potchi888
- Start date
In order to answer that question, you need to determine if the building will be used for commercial or residential purposes, as the depreciation calculation is dependent upon usage of the building.
27 1/2 years for residential, 39 years for commercial.
In addition, you need to determine the breakdown of the cost of the building vs the cost of the land.
Land is not depreciable.
27 1/2 years for residential, 39 years for commercial.
In addition, you need to determine the breakdown of the cost of the building vs the cost of the land.
Land is not depreciable.