Question
Carlos purchased an apartment building on November 16, 2006, for 125,000. Twenty five percent of the purchase price was for land. Carlos has incurred the
Carlos purchased an apartment building on November 16, 2006, for 125,000. Twenty five percent of the purchase price was for land. Carlos has incurred the following costs since 2006- New Deck - 09/15/09 - $6,000, Water Softener - 12/10/10 - $600, Replaced Roof - 06/02/12 - $8,000, Ceiling Fan - 02/08/13 - $55, Repaired Furnace - 01/02/14 - $450, New Rose Bushes - 06/04/15 - $320, Furniture - 10/01/16 - $3250, Microwave - 11/02/13 - $201, Repaired Windows - 05/10/14 - $750, Carpeting - 06/10/17 - $625, Wood Flooring - 06/15/15 - $790. Determine Carlos cost recovery for 2006 to 2017 for all assets. No bonus depreciation was used, no section 179 on all assets.
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