Jose purchased a house for $300,000 in 2012. He used the house as his personal residence. In
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Jose purchased a house for $300,000 in 2012. He used the house as his personal residence. In March 2015, when the fair market value of the house was $400,000, he converted the house to rental property. What is Jose's cost recovery for 2015?
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Joss basis for cost recovery is 300000 becaus...View the full answer
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Related Book For 
South Western Federal Taxation 2016 Comprehensive
ISBN: 9781305395114
39th Edition
Authors: James H. Boyd, William H. Jr. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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