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Nope... unless it's § 179.
May I ask why; what are you trying to accomplish?
( Generic Comment )"
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The depreciation was originally associated with a Rental property and showed on Form 8825. Now we still have the improvement but it's no longer a rental property just more of an investment property.
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There are reasons not to hold real property in an S corp, and especially Rental property. Now you have "investment" property in the S corp, which isn't even generating Income? Something you are not using, but holding, would not keep depreciating, if held as an investment (example: art work). Depreciation is in consideration as a value for tax expense (not capital gain/loss) for wear and tear over time as loss of value to that property.
This is all very confusing. Could you give more details?
"Level Up" is a gaming function, not a real life function.
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I think you're over thinking this. It was land that we were leasing out for cattle grazing. The depreciable item was a fence I think. We're talking about $42 per year of depreciation. They no longer have cattle on the land but we still own it.
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just more of an investment property.
So is depreciation appropriate?
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I'm not overthinking this; it was asked of the community, so it gets answered, because otherwise, why ask? More details always help.
"Level Up" is a gaming function, not a real life function.