Can You Get Two Depreciation Reports From Different Companies And Compare?

Discussion in 'Accounting & Tax' started by Michael.Knight, 30th Jul, 2015.

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  1. Michael.Knight

    Michael.Knight Well-Known Member

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    Hi forumites!

    So I got a depreciation report done 6 years ago from Opteon. The house was $500k and built only 2 years prior. The report only included ten years worth of depreciation with the first year being $9k.

    Sooo I get more experienced and for future reports I went with BMT where the report was for 20 years depreciation and for one of my houses built in 1980 I was able to deduct $7k in the first year.

    So Im thinking BMT are better, and I want to go back to the first house and get a new report done by BMT. Im hoping the deductions will be greater than the Opteon report and include 20 years.

    Is this legal and OK?
     
    Michael.Knight, 30th Jul, 2015
    #1
  2. Depreciator

    Depreciator Well-Known Member

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    Yep. Nothing wrong with that. Certainly worth getting it looked at. If that $500K was for just the building and Assets, that $9K seems low. If the $500K included land, it might be okay.
    Scott
     
    Depreciator, 30th Jul, 2015
    #2
  3. Sackie

    Sackie Well-Known Member

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    Its been my experience that Opteon are quite conservative. With their valuations as well. I wouldn't use them for anything if you can avoid it.
     
    Sackie, 30th Jul, 2015
    #3
  4. Depreciator

    Depreciator Well-Known Member

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    Opteon are primarily valuers, which might explain their conservative nature.
     
    Depreciator, 30th Jul, 2015
    #4
    Sackie likes this.
  5. Chilliblue

    Chilliblue Well-Known Member

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    Have used Opteon in the past and never again.
     
    Chilliblue, 30th Jul, 2015
    #5
    Observer and Sackie like this.
  6. Sackie

    Sackie Well-Known Member

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    Sometimes when I get valuations its like Russian roulette - which company is the bank's computer going to randomly choose for me........Bang!
     
    Sackie, 30th Jul, 2015
    #6
    Observer likes this.
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