1031 exchange calculate depreciation

Dear 1031x.com: I'm interested in the 1031 exchange on a property I'd like to  sell in Seattle.  How do I find out the depreciation on my house?

Dear C:  Depreciation is taken on improved property gradually and year by year.  Usually the annual depreciation allowance is the same every year.  However, there are accelerated depreciation schedules that are sometimes used.  The only way for you to determine your accumulated depreciation is to examine your past tax returns.  Look back at the last several years.  If the depreciation taken is the same for each year then it is a pretty safe assumption that the same depreciation was taken every year since you acquired the property.  Multiply the annual depreciation taken by the number of years owned and you will have you total accumulated depreciation.  Please note the when a property is acquired or sold during a year you usually get less than a full years depreciation allowance.  Please choose us for your 1031 exchange.  Sincerely,

Steve Hickox
Attorney / President

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