Last year, Anne purchased a condo unit for $125,000. She used the condo as her personal residence.
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Last year, Anne purchased a condo unit for $125,000. She used the condo as her personal residence. In the current year, when the condo unit appraises at
$132,000, Anne moves out and converts the condo to rental property.What basis can Anne use when computing her depreciation on the rental condo unit?
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Muhammad Salman Alvi
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