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On August 1, 2020, Jose purchased and placed in service a building that cost $1,200,000. An appraisal determined that 25% of the total cost was attributed to the value of the land. The bottom floor of
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On August 1, 2020, Jose purchased and placed in service a building that cost $1,200,000. 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 annually to a retail business for $24,000. The other floors of the building are rental apartments with an annual rent of $190,000

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JananMmAia 1and polQ $1002
On August 1, 2020, Jose purchased and placed in service a building that cost $1,200,000. An-example-1
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