Nick purchased a small office on 1 March CY for $137,000. The property had been constructed on 21 August 2010 for $125,000. Based on the
Nick purchased a small office on 1 March CY for $137,000. The property had been constructed on 21 August 2010 for $125,000.
Based on the above facts and relevant tax laws, what amount can Nick claim as an allowable deduction regarding the office? (select the best answer)
| A | $1,045 | |
| B | $0 buildings are not depreciable! | |
| C | $1,671 | |
| D | $2,089 |
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Authors: Michael J. Jones
2nd Edition
0470017791, 978-0470017791
