safe harbor election on rental BUILDINGS?

[WITAXLADY]

so I love the SHE, as I call it..

but can it be used on the shell itself of rental buildings, the initial purchase price -  or just on the improvements?

thx -

I have a do it your-selfer telling me I have to give stepped up basis from grandparents passing and quick claim deed and now 505 owner, etc, and  writing off  more depreciation,,, I love it when i am trying to fix the rental income that he did as stumpage - long term capital gains and he is still trying to tell me how to do taxes

said your mixing sale and taxes...

but please answer my initial question if you would pretty please

thank you

[Lion EA]

I don't have any rentals lately.  But, under Elections in my software for the Safe Harbor Elections for Small Taxpayers where it asks for a description of eligible properties, it cites Section 1.263(a)-3(h) so I'd start researching there.