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Financial Planning / Tax Strategies


Subject:  Re: Tax on inherited IRA Date:  2/21/2013  4:34 PM
Author:  Wradical Number:  117835 of 127753

So he wants to make up for the tax he owes by expensing a huge amount of improvements he made to his vacation rental. Normally it looks like it must be depreciated over 39 years. But why isn't Turbo Tax offering to allow him the Section 179 deduction?
Because 179 is available only for the "active conduct of a trade or business," and that does not include rental real estate, for that purpose.

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