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Rudik [331]
2 years ago
5

During 2014 and 2015, Danny pays property taxes of $3,500 each year on a piece of land. During 2014, the land is vacant and unpr

oductive. In 2015, Danny uses the land as a parking lot and generates $16,000 in income. Which of the following is true regarding the property taxes?A) Capitalize $3,500 each year.B) Deduct $3,500 each year.C) Capitalize $3,500 in 2014 and deduct $3,500 in 2015.D) Either B or C is acceptable.
Business
1 answer:
motikmotik2 years ago
5 0

Answer: the answer is C deduct $3500 each year.

Explanation: Whether the land is vacant and unproductive or it is used to generate income. The property tax for the land will be paid yearly

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