Posted by Brad Crouch on March 18, 2000 at 18:29:52:
nt
Section 179, IRS code?? - Posted by Laure
Posted by Laure on March 18, 2000 at 06:57:16:
In Mr Landlord’s email, he asked people for their favorite tax savings strategy. One Landlord wrote that Section 179 expense on newly purchased property is his favorite.
Does anyone know, it this allowable on real property? I thought it was only for equipment???
Laure 
Re: Section 179, IRS code?? - Posted by JHyre in Ohio
Posted by JHyre in Ohio on March 18, 2000 at 07:19:22:
No go for real property. Basically applies to depreciable purchased personal property (not structural component of a building), e.g.- computers, etc.
John Hyre
Re: Section 179, IRS code?? - Posted by The Baze
Posted by The Baze on March 18, 2000 at 07:16:58:
Laure,
You are correct, real property, which includes buildings & their structural components are not Section 179 property. Property held for the production of income, i.e. rentals, do not qualify for Section 179 treatment,
Tom Bazley
deprec. of personal property in a rental - Posted by RR Smith
Posted by RR Smith on March 18, 2000 at 12:54:42:
Ovens, refrig., washer /dryers?
Dog gone it and I was just at the tax prep place today.
Re: Section 179, IRS code?? - Posted by Brad Crouch
Posted by Brad Crouch on March 18, 2000 at 15:18:08:
Tom,
What about the beneficial interest in a trust holding real property? Although I haven’t yet read section 179 yet, it comes to mind that this is pesonal property.
Brad
Re: Section 179, IRS code?? - Posted by The Baze
Posted by The Baze on March 18, 2000 at 15:51:10:
Nice try, but, under the premise that beneficial interest in a trust is personal property, it’s an intangible asset, and intangible assets don’t qualify for Section 179 treatment. Sorry.
Tom Bazley