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- Commercial /Residential depreciation do I need a 3115?
Commercial /Residential depreciation do I need a 3115?
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michele
Level 7
08-13-2022
02:36 PM
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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
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3 Comments 3
TaxGuyBill
Level 15
08-13-2022
07:26 PM
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Unless 80% of the rent is residential, the entire building remains at 39 years.
michele
Level 7
08-14-2022
02:01 PM
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Thanks I was going to look up the regs. I had not had anyone use commercial as dual.
