Cost segregation
i am planning to buy a property and do cost segregation and take the accelerated depreciation to offset my W2 income. does freetax usa tax filing support this and help in filing. appreciate details on this. thanks
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Comments
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Hi RD007,
I'll assume you're referring to a rental property?
We have a great article here in our Community on this topic. You'll need to run your own calculations and enter information in our software.
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are there any specific forms that needs to be used and does the software allow ?
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You'll report this the same as other depreciable items on Schedule E for a rental. Keep detailed records should the IRS request supporting documentation.
