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I am after some advice on whether it is worth getting a depreciation schedule for my circumstances. The IP is 70s vintage, and therefore construction cannot be depreciated. However, a few years ago the previous owners did some renovations, which I suspect would have cost $40-50k (although I...

I'm buying a mid 1970s IP and understand that I cannot claim building deprecition because of its age. However, the current owner did major renovations a year or so ago. Can the value of these renovations be depreciated. If so, how do I go about assessing the renovation value. Do I...

Hello Have recently decided to purchase an IO. Have also just discovered this site, and feel like a kid in candy shop with the info on offer. I expect that answers to my questions can be found in many places on this site, but I am still finding my way around, and I have to decide on the...