Hi Ryan — I’d appreciate some guidance on timing a cost segregation study around a 1031 exchange. Reminder of my situation: - Sold my prior short-term rental in Wisconsin on Nov 7, 2025 (full 1031 exchange). - Replacement property in Minnesota closes Dec 19, 2025. - Property won’t be placed into service until April/May 2026 (remodeling, prep/furnishing, and new dock is planned). My question: Since the closing occurs in 2025 but the property won’t be ready for guests until later in 2026, should I: 1. Complete the cost segregation study in 2025 (the year of acquisition), or 2. Wait until 2026, when the property is actually placed in service for rental use? I want to make sure I’m capturing bonus depreciation at 100% and aligning the timing properly for tax reporting (especially since Form 8824 for the 1031 will be on my 2025 return). Any insights on whether the cost seg date should tie to the acquisition date or the placed-in-service date would be really helpful.