ses a rental house on July 2

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter8: Depreciation And Sale Of Business Property
Section: Chapter Questions
Problem 1MCQ: Alice purchases a rental house on August 22,2019, for a cost of $174,000. Of this amount, $100,000...
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Alice purchases a rental house on July 22, 2021, for a cost of $174,000. Of this amount, $100,000 is considered to be allocable to the cost of the home, with the remaining $74,000 allocable to the cost of the land. What is Alice's maximum depreciation deduction for 2021 using MACRS?

 

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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