Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.1 6/24/83; site gargoyle.UChicago.UUCP
Path: utzoo!watmath!clyde!burl!mgnetp!ihnp4!gargoyle!thisted
From: thisted@gargoyle.UChicago.UUCP (Ronald Thisted)
Newsgroups: net.invest
Subject: Re: Rental Property Depreciation
Message-ID: <197@gargoyle.UChicago.UUCP>
Date: Sat, 8-Sep-84 10:56:46 EDT
Article-I.D.: gargoyle.197
Posted: Sat Sep  8 10:56:46 1984
Date-Received: Thu, 13-Sep-84 19:02:01 EDT
References: <126@ihdba.UUCP>, <549@houxn.UUCP>
Organization: U. Chicago - Computer Science
Lines: 7

Note that only buildings are depreciable property; land is not depreciable
(it doesn't wear out).  Since the purchase price of most real estate
includes both land and buildings, you have to allocate a share of the total
price to the land, and only take depreciation on the rest.  If you don't,
pray that you don't get audited.....

Ron Thisted (...!ihnp4!gargoyle!thisted)