Revenue procedure · 2021
Rev. Proc. 2021-28
Rev. Proc. 2021-28
IRS administrative guidance
What it holds
Implements the retroactive 30-year ADS recovery period for residential rental property placed in service before 2018 and held by an electing real property trade or business under §163(j)(7)(B).
Why it matters for your study: Gives residential rental property placed in service before 2018 a 30-year ADS recovery period (instead of 40) when its owner elects to be a real property trade or business under §163(j). It matters for look-back studies on electing owners.
- Category
- Methodology & procedure
- Applies to
- All property types
- Status
- Vetted
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