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I need help calculating the straight-line depreciation for a tax return for 2018. Thank you! 3. On October 1, 2015 the Martinez's purchased a house

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I need help calculating the straight-line depreciation for a tax return for 2018. Thank you!

image text in transcribed
3. On October 1, 2015 the Martinez's purchased a house in Augusta, GA located on the National Golf Club of Augusta, home of the Masters Golf Championship. The house is held as a rental investment. The property cost $900,000 (of which $400,000 is allocated to the land) and is located at 1606 Jack Nicklaus Way, Augusta, GA 30904. The Martinez family resided in the house for personal recreation totaling 40 days and rented the house out 180 days in 2018. $42,000 in gross rental receipts was collected in 2018 whiph included $8,000 that was received in advance for 2019. The Martinez's allocate rental expenses per the IRS Method. They use MACRS straight-line depreciation, assuming the mid-month convention. The Martinez's pay a rental management company to handle all aspects of renting and care of this property. Information regarding the rental property items for 2018 are summarized below: Refundable damage deposit 4,000 Property taxes 9,300 Interest on mortgage 14,500 Repairs 4,800 Insurance 2,500 Utilities 3,000 Management fees (paid to rental management mu): 8,800

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