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    perwinea's Avatar
    perwinea Posts: 2, Reputation: 1
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    #1

    Jun 3, 2014, 03:34 PM
    California residential rental property depreciation conformity
    An individual who owns California residential rental property who is a CA resident as well has been depreciating her rental the same on both federal and state income tax returns... straight line, useful life = 27.5 years. She originally purchased her rental in October of 1996 and immediately began renting out (never resided in it herself).

    Is she correct to depreciate it over 27.5 years?
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Jun 3, 2014, 05:38 PM
    Yes, that is the IRS factor, 27.5 yrs.
    perwinea's Avatar
    perwinea Posts: 2, Reputation: 1
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    #3

    Jun 4, 2014, 01:37 PM
    Yes, I understand that to be the IRS factor. But does California use that same time or do they use a longer/shorter class life to depreciation residential rental property?Thank you!Pat
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #4

    Jun 4, 2014, 06:20 PM
    Can't help you there but most states concur with the federal standards.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #5

    Jun 6, 2014, 05:48 AM
    California uses the same depreciation schedule as the IRS.
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