STR Cost Segregation in Park City, UT
Park City STR cost segregation: nightly-rental identity and lockout-unit boundaries. Review local resources, study records, and a property-specific planning example.
Nightly-rental identity and lockout-unit boundaries
Park City’s building-permit page identifies nightly-rental licensing as a separate requirement. Confirm the city boundary and the approved unit configuration before equating a resort marketing description with the property covered by an operating license. Park City building permits and nightly-rental licensing.
Define the property study
A lockout condo can function as connected space or separate guest areas. Supply a floor plan and explain actual use, shared systems, and ownership. Reconcile furnishing packages by unit or area instead of assuming separate booking listings mean separate tax assets. The study and return preparer need consistent property identifiers across acquisition, management, and depreciation records.
Records that resolve the main questions
- Floor plan identifying lockout doors and shared spaces
- Deed and condominium declaration for the ownership interest
- Unit-level inventory and management booking identifiers
A scoping example
A buyer acquires one deeded condo but the manager advertises two lockout listings. Create an inventory that maps each item to the relevant room and reconciles to the one acquisition. Explain shared appliances and systems rather than treating the two listings as two independent purchases.
Does a separate booking listing establish separate property basis?
No. Start with the transaction and ownership documents, then map the rental configuration. Booking identifiers are operational records; they do not independently establish tax ownership or acquisition cost.
Prepare for a Stratum study
Stratum provides nationwide property-study services, with discovery calls through AE Tax Advisors. Confirm the engagement scope, fee, evidence requirements, and CPA handoff. A service-area page does not represent a local office. Local operating approval and federal depreciation are separate questions.
- Build your document checklist
- STR Condo Studies: Separate Unit Assets and Common Areas
- Understand the STR study service
- Compare cost segregation companies