Jocasta owns an apartment complex that she purchased 6 years ago for $750,000. Jocasta has made $50,000
Question:
Jocasta owns an apartment complex that she purchased 6 years ago for $750,000. Jocasta has made $50,000 of capital improvements on the complex, and her depreciation claimed on the building to date is $128,700. Calculate Jocasta’s adjusted basis in the building.
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Related Book For 
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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