Rex Redd purchased a business building on January 1, 2004, for ($ 975,000) and used the straight-line
Question:
Rex Redd purchased a business building on January 1, 2004, for \(\$ 975,000\) and used the straight-line depreciation over 39 years. He took \(\$ 25,000\) depreciation for 2004 through 2015 and none for 2016 and 2017 . He sold the building on January 2, 2018. What is Rex's adjusted basis in the building on January 2, 2018?
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Related Book For 
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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