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Augustus1 Augustus1
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7 years ago
Abby owns a condominium in the Great Smokey Mountains. During the year, Abby uses the condo a total of 21 days. The condo is also rented to tourists for a total of 79 days and generates rental income of $12,500. Abby incurs the following expenses:

Expense   Amount
Mortgage interest   $ 4,100
Property taxes   1,900
Utilities   2,200
Insurance   1,200
Depreciation   10,000

Using the IRS method of allocating expenses, the amount of depreciation that Abby may take with respect to the rental property will be
A) $ 5,074.
B) $ 8,515.
C) $ 7,900.
D) $10,000.
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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3 Replies
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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Yoko900Yoko900
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7 years ago
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Augustus1 Author
wrote...
#2
7 years ago
I needed this so bad, I'm laughing right now from happiness
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
wrote...
#3
4 years ago
Must be a joke
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