COMMERCIAL COST SEGREGATION: PROPERTY AND STUDY BRIEF

MY PROPERTY

Property type and how it is used: Please help confirm.
City and state: Please help confirm.
What I own (building, improvements, equipment): Please help confirm.
Any separate landlord, tenant, or operating company: Please help confirm.

DATES AND NUMBERS

Contract date and closing date: Please help confirm.
Date the building was ready to use (placed in service): Please help confirm.
Improvement dates and costs, if separate: Please help confirm.
Total tax basis including land, and its source: Please help confirm.
Land allocation within that tax basis, and its source: Please help confirm.
Items already depreciated on their own, or covered by an earlier study: Please help confirm.

Tax basis is the amount used for tax depreciation after applicable adjustments. It can differ from market value, cash paid, or a loan balance.
Placed in service means ready and available for the intended business or income-producing use.

PLANS AND PAPERWORK

Records I have (closing statement, depreciation schedule, invoices, plans, photos): Please help confirm.
Planned renovations or tear-outs: Please help confirm.
How long I plan to hold, and whether I might sell sooner: Please help confirm.
Date I need the study, and my tax preparer's deadline: Please help confirm.

QUESTIONS FOR THE STUDY PROVIDER

1. Does your service cover this exact property and what I own?
2. Which assets, costs, and years will your report cover?
3. How will you tie your numbers to my tax basis and avoid counting items that are already on my schedule?
4. What land allocation will you use, and where does it come from?
5. How do you handle improvements my tenants own?
6. Which records, inspection, estimates, and assumptions will you use?
7. Can you show the extra depreciation compared with my current schedule, with the dates and bonus rate you assumed?
8. What is the total fee, including inspection, changes, rush work, and any catch-up or Form 3115 work?
9. What will my tax preparer receive, and what do they still have to prepare or file?
10. What audit support is included, what is left out, and who represents me if it comes to that?
11. When does the delivery clock start, and can you meet my date?

QUESTIONS FOR MY TAX PREPARER

1. Which taxpayer owns the assets, and are the tax basis, land allocation, and current schedule right?
2. How much of the extra depreciation could lower my federal tax this year, after the loss limits that apply to me?
3. How does my state treat it?
4. Do earlier elections, interior improvements, renting to my own business, an exchange or transfer, or the production-property rules change the answer?
5. How do my hold plan and an earlier sale change the value?
6. What extra tax work and fees come with this, and which filing applies?

I am asking for a scope and an estimate. I am not assuming any tax result.

Prepared with the CostSegregationMatch commercial guide:
https://costsegregationmatch.com/commercial-cost-segregation/