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M
michele
Level 6
August 13, 2022
Question

Commercial /Residential depreciation do I need a 3115?

  • August 13, 2022
  • 1 reply
  • 8 views

I really should be able to do these 3115 in my sleep by now!!!  This couple owns a commercial property I have been depreciating as 39 year property.  They have now started renting the property upstairs to an individual to live in as a residence. The lower is staying as commercial. Since I am changing  to 40% residential and  60 % commercial do I have to do a 3115?  

 

thanks

Michele

This topic has been closed for replies.

1 reply

T
TaxGuyBill
Level 15
August 14, 2022

Unless 80% of the rent is residential, the entire building remains at 39 years.

    M
    micheleAuthor
    Level 6
    August 14, 2022

    Thanks I was going to look up the regs. I had not had anyone use commercial as dual.

     

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