ILLMAS Posted April 15, 2008 Report Share Posted April 15, 2008 Hello to all, I have a question, I have client that bought a property that qualifies for the GO Zone deduction, the property is being rented, it was bought in 2007. She previously had sold a house in IL so she has a capital gain on the sale, ATX is calculating 50% of depreciation for the property under the GO Zone. Since my client is not a real estate prof., shouldn't it be limited to 25K and not take 50% depreciation of 161K? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.