Please select the property type from the drop-down menu. If you do not see your specific property type listed, please select 'Other' or contact us for assistance.

To calculate the depreciable basis, use the following formula:

Purchase Price + Cost of Improvements - Land Value = Depreciable Basis

If you don't know the land value (typically from an appraisal or property tax assessment), use 20% of the purchase price as an estimate.
For newly constructed properties, the depreciable basis is typically the total capitalizable construction costs.

Enter the placed in service date for the property. For acquired properties, this is typically the purchase date of the asset (assuming the property is ready and available for its intended use on the day it is purchased). For newly constructed properties, use the construction completion or certificate of occupancy date. This can also be found on the depreciation schedules attached to your federal income tax return for the tax year the property was purchased.

Please enter your estimated federal income tax rate for the current tax year. If needed, please contact your tax advisor for assistance with this input.