Question
On April 3, 2016, Terry purchased and placed in service a building that cost $2,000,000. An appraisal determined that 25% of the total cost was
On April 3, 2016, Terry purchased and placed in service a building that cost $2,000,000. An appraisal determined that 25% of the total cost was attributed to the value of the land. The bottom floor of the building is leased to a retail business for $32,000. The other floors of the building are rental apartments with an annual rent of $160,000.
Terry's cost recovery deduction for 2016 is $
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The Handbook Of Credit Portfolio Management
Authors: Greg Gregoriou, Christian Hoppe
1st Edition
0071598340, 978-0071598347
