Rental property depreciation clawback: Mary Holm
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Q. In your August 24 article regarding clawback on depreciation on rental property, mention was made of apportioning the sale price between land and buildings. Is there also a need to place a value on the chattels sold?
Friday, October 11th 2002, 9:04AM
by The Landlord
A. Usually when buying a new house or apartment for rental purposes, and it is fully furnished, the subsequent depreciation is made up largely of what is calculated on fixtures and fittings, particularly in the first year.
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Correction on Depreciation Calculations
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