Cost Recovery Period for Residential Rental Property under Section 163(j)
September 4, 2019
The Roundtable is a signatory on a September 4, 2019 real estate industry letter to House Ways and Means Committee leadership to correct a drafting oversight in the Tax Cuts and Jobs Act (TCJA) that requires certain multifamily buildings to be depreciated over 40 years as opposed to the congressionally intended 30 years.
The coalition requests that this clarification be included in any tax legislation that may be enacted this year, so that the multifamily industry can build the 328,000 new apartment units our nation needs annually between today and 2030.
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