In generally the same way as it would with a regular investment, except you might have limitations on taking these deductions in Year 1 due to outside basis, passive activity, and a few other factors your tax professionals would need to analyze prior to undertaking the cost seg study.
Cost segregation will be at the QOZB level, probably. The purpose is to maximize the depreciation deductions. Again, careful structuring and study is needed, given the fact if deferral of gains is the goal, your initial basis is zero.
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