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On , April 1 5 , Gavyn purchased and placed in service a building that costs $ 5 0 0 , 0 0 0 .
On April Gavyn purchased and placed in service a building that costs $ The building is square feet. Of that amount, square feet is used for apartments, and square feet is used for a retail store. The retail store generated $ while the apartments generated $ this year. How is the building classified for the purpose of calculating depreciation?
completely nonresidential
the taxpayer may elect residential or nonresidential
completely residential
part residential and part nonresidential
This is for the class Individual Income Tax. Please take your time and use the correct tax brackets. Every question ive asked related to taxes ends up incorrect.
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