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Please answer question number 20. 19. On 1 June 2018, Rex acquired an apartment building and immediately placed it into service as a rental property.
Please answer question number 20.
19. On 1 June 2018, Rex acquired an apartment building and immediately placed it into service as a rental property. Rex's initial basis in building was $480,000 and his initial basis in the land upon which the building sits was $120,000. Determine the amount of Rex's depreciation deduction for 2018. a. $17,453 c. $6,677 b. $8,727 d. $9,456 20. Assume the facts from problem 19. On 30 September 2019 Rex sells the apartment building. Determine the amount of Rex's depreciation for 2020, the year of sale. a. $17.453 d. $5,093 b. $0 e. $12,363 C. $13,090 19. On 1 June 2018, Rex acquired an apartment building and immediately placed it into service as a rental property. Rex's initial basis in building was $480,000 and his initial basis in the land upon which the building sits was $120,000. Determine the amount of Rex's depreciation deduction for 2018. a. $17,453 c. $6,677 b. $8,727 d. $9,456 20. Assume the facts from problem 19. On 30 September 2019 Rex sells the apartment building. Determine the amount of Rex's depreciation for 2020, the year of sale. a. $17.453 d. $5,093 b. $0 e. $12,363 C. $13,090Step by Step Solution
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