Submitted by chris886 t3_11dqnzu in personalfinance
vettewiz t1_jaad1iv wrote
Reply to comment by chris886 in Taxes for a small business that I don’t plan on drawing income from? by chris886
Not until you sell it. On a given year, you will deduct the purchase price of the property (minus land value), divided by 17.5 I believe. IRS uses a depreciation schedule of 17.5 years for real property.
chris886 OP t1_jaaert9 wrote
Nice. Thanks!
Viewing a single comment thread. View all comments