Mark owns a single family residence. Using the straight-line depreciation method, what is the theoretical economic life of Mark'

Question

sergey [27]

4 years ago

12

Mark owns a single family residence. Using the straight-line depreciation method, what is the theoretical economic life of Mark'

s property

Social Studies

1 answer:

Anna35 [415] · Answer 1 · 2022-01-21T12:56:56+03:00

Answer:

27.5 years

Explanation:

The property is depreciated on a straight line basis following the tax life of 27.5 year. The general depreciation system of the modified accelerated cost recovery system (MACRS) the IRS usually set 27.5 years sets a recovery period for residential rental property