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Question 4 of 89 This tast 200 point(s) possible This question: 4 points) possible Submit test Taylor owns a house that she has been living in for eight years. She purchased the house for $200,000 and the FMV today is $180,000 She is moving into her friend's house and has decided to comert har residence to rental property Assume 40% of the property's value is allocated to land Read the Requirementa. What is the basis of the house for depreciation? The basis of the house for depreciation is Requirement. It she claims depreciation of $10,000 and sells the property six years later for $310,000 (40% alocated to land determine the gain on the sale of the building and gain on the sale of the land First seact the formula labels and then calculate the realized gain or loss (Use a parentheses or a minus sign to show a loss House Land Requirements Adjusted basis y Less Realized gain (los) Requirement C. How much of the gain is due to depreciation? . What is the basis of the house for deprecation If she cama depreciation of 510.800 and els the property se years later for $310.000 (40%llocated to land determine the gain on the sale of the building and gain on the sale of the land c. How much of the gain is due to depreciation? d. the FMV 5230,000 when she converts the house to rental property rustad of 5180.000, what is the basis of the house for depreciation ver The gain due to depreciation is Requirement d. If the FMV is $230 000 when she convert the house to rental property instead of 5180 000, what is the basis of the house for depreciation? sive The basis of the house for depreciation Print Done pport Requirements a. What is the basis of the house for depreciation? b. If she claims depreciation of $10.800 and sells the property six years later for $310,000 (40% allocated to land), determine the gain on the sale of the building and gain on the sale of the land. c. How much of the gain is due to depreciation? d. If the FMV is $230,000 when she converts the house to rental property instead of $180,000, what is the basis of the house for depreciation? Print Done Requirement b. If she claims depreciation of $10,800 and sells the property six years later for $310,000 (40% allocated to land), determine the gain or First select the formula labels and then calculate the realized gain or loss. (Use a parentheses or a minus sign to show a loss.) House Land Adjusted basis Less: Realized gain (loss) Requirement c. How much of the gain is due to depreciation? The gain due to depreciation is 0 Requirement d. If the FMV is $230,000 when she converts the house to rental property instead of $180,000, what is the basis of the house for depreciatio The basis of the house for depreciation is This question: 4 point(s) possible Submit test Taylor owns a house that she has been living in for eight years. She purchased the house for $200,000 and the FMV today is $180,000 She is moving into her friend's house and has decided to convert her residence to rental property. Assume 40% of the property's value is allocated to land. Read the requirements Requirement a. What is the basis of the house for depreciation