Last year, Anne purchased a condo unit for $125,000 as her personal residence. In the current year,

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Last year, Anne purchased a condo unit for $125,000 as her personal residence. In the current year, the condo unit appraises at $132,000, and Anne moves out and converts the condo to rental property. What basis can Anne use when computing her depreciation on the rental condo unit?
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Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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