HB

07 Captial Deduction? 1. Fred buys an apartment which is to be used for rental income. It costs $600,000.(Single Choice)* This is considered a gift Fred is entitled to calim the $600,000 as a deduction Fred is entitled to claim the $600,000 but amortized over 5 years 5 Fred is not enttled to claim any of that sum as a deduction