In august 2016, richard purchased and placed in service an office building costing $753,000, including $134,000 for the land. th

Question

Alona [7]

3 years ago

15

In august 2016, richard purchased and placed in service an office building costing $753,000, including $134,000 for the land. th

e amount of depreciation richard may claim in 2016 is __________.

Business

1 answer:

frutty [35] · Answer 1 · 2022-05-05T15:05:22+03:00

frutty [35]3 years ago

8 0

I think the depreciation will be charged only on the value of the house so that would be $753000-134000=$619000 since the land wouldn't depreciate. The actual amount of depreciation I don't know, just that it will be based on this value of the building on the land.