Hi,
I was doing my taxes this year and Stessa has been a huge help. Makes the whole process a lot easier.
One thing that I was hoping I could find in the properties section, next to the assessed value was the portion of the county value that is for land, vs the building. As I cant depreciate land with the IRS. It seems that Stessa already has the info available because it pulls the assessed value and taxes paid, it would just be adding 2 more columns to that table, Land Value and assessed value.
Thanks!, love the software and appreciate the hard work you’re putting into it
I’d also like to add to this thread–depreciation tracking is the main reason that I landed on Stessa. Especially because the Stessa blogpost linked below indicates that Stessa does it, but it’s hard to tell how it’s already been implemented if it has been implemented.
“Accurately calculating rental property depreciation can obviously be complicated. That’s why many real estate investors pay a tax professional or sign up for a free account with Stessa to accurately track the depreciation expense of a rental property.”
I would greatly appreciate clarity on this question as well. Specifically, what is the proper way within Stessa to insure that depreciation is being calculated on the home value only and not on land value?