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Business, 27.11.2019 23:31 dominikbatt

Six years ago, sharon purchased her principal residence for $500,000. in the current year, she converts the property to rental use because she has been unable to sell it due to the depressed real estate market. the property's current fair market value is $400,000 (of which $100,000 is for the land). what basis does sharon use when computing depreciation on her rental property?

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Six years ago, sharon purchased her principal residence for $500,000. in the current year, she conve...
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