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On June 1st of the current year, Nancy and Dean purchased a rental beach house for $1,200,000. Of that amount, $800,000 was for the land value. How much depreciation deduction can Nancy and Dean take in
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On June 1st of the current year, Nancy and Dean purchased a rental beach house for $1,200,000. Of that amount, $800,000 was for the land value. How much depreciation deduction can Nancy and Dean take in the current year?

User Suziki
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1 Answer

3 votes

Answer:

Step-by-step explanation:

Amount Available for Depreciation =1200,000-800,000 = 400,000

Depreciation = 400,000*X%

There should be the depreciation table to refer to and find X

User Karn
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