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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 15, Gavyn purchased and placed in service a building that costs $500,000. The building is 4000 square feet. Of that amount, 1,000 square feet is used for apartments, and 3,000 square feet is used for a retail store. The retail store generated $40,000, while the apartments generated $280,000 this year. How is the building classified for the purpose of calculating depreciation?
completely non-residential
the taxpayer may elect residential or non-residential
completely residential
part residential and part non-residential
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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