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Level 2
December 7, 2019
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What life to use for depreciation if the gross rental income is 50% dwelling income and 50% retail space?

  • December 7, 2019
  • 2 replies
  • 7 views
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Best answer by IRonMaN

Break it into two assets and depreciate accordingly.

2 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

Break it into two assets and depreciate accordingly.

Slava Ukraini!
rbynaker
Level 13
December 7, 2019

39-year.

168(e)(2)(A)(i) The term “residential rental property” means any building or structure if 80 percent or more of the gross rental income from such building or structure for the taxable year is rental income from dwelling units.