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

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

  1. Michael.Knight

    Michael.Knight 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?
     
  2. Depreciator

    Depreciator Moderator Staff 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
     
  3. Leo2413

    Leo2413 Well-Known Member Premium 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.
     
  4. Depreciator

    Depreciator Moderator Staff Member

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    Opteon are primarily valuers, which might explain their conservative nature.
     
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  5. Chilliblue

    Chilliblue Well-Known Member

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    Have used Opteon in the past and never again.
     
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  6. Leo2413

    Leo2413 Well-Known Member Premium 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!
     
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