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13 On March 3, Stella acquired a machine for $30,000 for use in her business. The machine is classified as 7-year property. Stella does not
13 On March 3, Stella acquired a machine for $30,000 for use in her business. The machine is classified as 7-year property. Stella does not expense the asset under Sec. 179 or bonus depreciation. Emma's depreciation on the machine for 2020 is t of Select one: a. $30,000. O b. $15,000. c. $3,214. O d. $4,287. 14 Wanda purchases a house on 5/5/2014. She is single. She lives in the house for 4 years and rents it out for two years. Which of the following is true. Select one: t of a. If Wanda first rents out the house for two years and then lives in it for 4 years, the only gain she must report is from depreciation recapture. b. If Wanda first lives in the house for 4 years and then rents it out for two years, she can exclude up to $250,000 of the gain. c. If Wanda first rents out the house for two years and then lives in it for 4 years she can exclude $250,000 of the gain. d. The years she rents it out is termed "qualified use
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