The modified accelerated cost recovery system (MACRS) is commonly used to depreciate residential rental properties. Calculating depreciation involves determining the property’s basis and ...

The first step in calculating depreciation on your rental property is determining the property’s cost basis. The basis is generally the property’s purchase price plus any associated costs ...

These include rental ... depreciation deductions are spread over 27.5 years for residential properties and up to 39 years for commercial properties, but it can vary. This is important for ...

Q: We are selling our townhome this year that we bought almost 30 years ago. We lived there first for 17 years, as a primary ...