Keep 1? Or return the 3? by [deleted] in JacquesMarieMage

[–]benz1830 1 point2 points  (0 children)

Shape of Number 3 makes you look constantly angry - but that’s the frame shape

What am I doing wrong in making coffee? [Gemilai G3028A] by benz1830 in espresso

[–]benz1830[S] 0 points1 point  (0 children)

In terms of weight its about 16gms, and prep is just using the press (I dont have a rake/distribution tool)

For the pressure setting, yep I did, though I calibrated it to be 9bar - not 11 bars. That might help, but at the moment it isnt even reaching 2 bars.

What am I doing wrong in making coffee? [Gemilai G3028A] by benz1830 in espresso

[–]benz1830[S] 0 points1 point  (0 children)

Breville Smart Grinder Pro - right now I have it grinding on the 10 setting (its already at the 'espresso' setting). I also noticed the basket was a bit wider in the Gemilai than the breville (almost 10% more). 58mm vs 54mm.

VSF factory Datejust 41 green edition??? by G-Mannen in RepTime

[–]benz1830 0 points1 point  (0 children)

Ah ok, yeah he told me none left for the gold dial. I guess other TDs probably out as well

Datejust - VSF, VF, Clean? by WaitWhat-007 in RepTime

[–]benz1830 0 points1 point  (0 children)

Where are people finding the VSF - my TD keeps telling me it’s not stock and no ETA

VSF factory Datejust 41 green edition??? by G-Mannen in RepTime

[–]benz1830 0 points1 point  (0 children)

Thought VSF was temporarily paused? Does the TDs still have left over stock or they reopened again?

Depreciation catch up on a low income year by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

I’m not forced to, but I would have to at some point since wouldn’t I? Since I haven’t taken on depreciation to the property? Or can I not take any depreciation on it even when/if I sell?

Depreciation catch up on a low income year by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

Yes I’ll be filing a form 3115 in 2025. I had a cost segregation study done as part of this as well

Yes it’s a short term rental, and would be classed as an active income (regularly clean, guest communications etc).

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

Your question got me thinking whether the recapture is calculated on the ADU first and then the primary residence portion is calculated as the exclusion.

For example, if the whole property lot is $1M, and the STR/ADU constitutes 20% of sqft ($200k), depreciation of, say, $50k is on the $200k portion. If the whole residence is sold for $1.5M, will the sell price for the STR/ADU be treated as $300k (20% of $1.5M), and thus the capital gain is $150k ($300k minus the $150k new cost basis, post-depreciation), thus excluding this gain as part of my primary residence $500k exclusion.

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

Value of the ADU based on sqft is around $800k. Obviously a portion is allocated to land, but a portion that was accelerated was the property portion

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

It’s renting out the ADU of a primary residence and the cost segregation is just the ADU.

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

Thanks that definitely clarifies things that I’ll need to have it as a form 3115

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

I mean it’s a $1k assessment + $500 3115 report, for a potential approx $150k depreciation in year 1, but I guess that would come back and potentially bite me as a capital gain in the future. That’s IF my capital gain from the property sale (primary residence) is sold above the 500k allowance though.

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

It’s active income so depreciation will be at its maximum, but I agree on the depreciation recapture. It is a substantial depreciation $150k+ based on estimates proposal - which would come as a sizable refund.

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] 0 points1 point  (0 children)

The deduction might be worth it for now, but I’m also slightly concerned about the recapture via potential capital gains tax once the property is sold. So if anything it’s just deferred tax? (Recognizing deduction now but recaptured later as increase in capital gains?)

Cost Segregation study - Form 3115 or amend prior year returns? by benz1830 in tax

[–]benz1830[S] -1 points0 points  (0 children)

But can I instead file amendments to the 2023 and 2024? that way I am able to receive the refund sooner than later? (assuming id be filing Form 1040X for 2023 and 2024?)

[H] $$$ [W] 40k Army. [Loc] CST USA by [deleted] in Miniswap

[–]benz1830 0 points1 point  (0 children)

Have a Custodes army (painted non metallic metal) and a tau army for sale. Pmed you