Ashley owned rental property that was deemed substandard by the City of Sacramento. She incurred $50,000 of

Fantastic news! We've Found the answer you've been seeking!

Question:

Ashley owned rental property that was deemed substandard by the City of Sacramento. She incurred $50,000 of depreciation expense related to that substandard rental property. How much of the $50,000 of depreciation expenses can she deduct on her Federal Income Tax Return, and California Income Tax Return?