If you buy a property that is 39 years old and has already been fully depreciated, can you depreciate it again, for another 39 years upon your purchase?
Add a comment
|
1 Answer
By asking about 39 years, I assume you mean a commercial property, as residential is 27.5.
Yes, the depreciation starts when you buy it, the history doesn't matter. It's as plain as that.
answered Jul 5, 2016 at 19:54
JTP - Apologise to Monica♦JTP - Apologise to Monica
173k34 gold badges297 silver badges560 bronze badges
-
Thanks for the clarification (between commercial vs residential). Commented Jul 5, 2016 at 21:42
-
Most welcome. You can accept the answer if you feel it adequately answered your question. Commented Jul 5, 2016 at 21:51