BellaParticipant@bella-auJoin Date: 2016Post Count: 5
I just purchased a IP. The house was built in 1950s. The previous owner’s family had it for 60 years. This house was renovated about 2 years ago and after renovated, the previous owner rented it out. So It was an investment property after renovation. New kitchen and new bathroom were installed, new carpet, new timber floors, new fence, new hot water system, etc.
i guess the previous owner would have a depreciation schedule since it was an IP and the renovation was done.
Should I ask the previous owner for their depreciation schedule if they are willing to provide?
Or should I pay $600-$700 to get a new depreciation schedule? Does it worthwhile to get my report done if I don’t do any renovation or add any new items after I buy the house?
What do you think?
TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
- This topic was modified 3 years, 9 months ago by Bella.