Question
Lastly, Chris and Stefani own a 3-bedroom cabin in Big Bear Lake (they bought it in January of 2005 for $300,000). The address is 3105
Lastly, Chris and Stefani own a 3-bedroom cabin in Big Bear Lake (they bought it in January of 2005 for $300,000). The address is 3105 Stonehedge Road, Big Bear Lake, CA 92315. They did not use the property forpersonal use at any time during the year. The revenue and expenses for the Big Bear Lake rental property are as follows:
Rental income $18,000
Expenses:
Insurance $ 1,200
Property taxes 2,500
Auto (standard mileage) 267
Management fees 1,600
Repairs and maintenance 1,100
Mortgage interest 9,000
Depreciation : calculate
Utilities 450
I need help calculating the depreciation amount
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