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Taxes and tile
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Blusteryknollfarm
Posted 3/26/2025 21:27 (#11163061 - in reply to #11162911)
Subject: RE: Taxes and tile


North Central Illinois
Depreciation by whoever pays to install it is pretty straightforward. When purchasing a piece of land, the portion of the purchase price that is applicable to existing depreciable improvements can be put on a depreciation schedule. Doesn't matter who paid for them or how they depreciated them as that was prior to the sale.

I'm not a CPA, but that's how I understand it.
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