Discussion:"The original use of the property in the GO Zone must begin with tax payer " = New Property Only?
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Discussion Forum Index --> Tax Questions --> "The original use of the property in the GO Zone must begin with tax payer " = New Property Only?
| 19 April 2006 | |
| In the GO Zone act of 2005 bonus depreciation can be deducted if
"The original use of the property in the GO Zone must begin with you after August 27, 2005. Used property can be qualified GO Zone property if it has not previously been used within the GO Zone. Also, additional capital expenditures you incurred after August 27, 2005, to recondition or rebuild your property meet the original use test if the original use" Does it mean that "used" property (in my case - flooded rental property) putchased after the storm will not qualify for the bonus depreciation? | |
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