Jose' purchased a house for $300,000 in 2014. He used the house as his personal residence. In
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Jose' purchased a house for $300,000 in 2014. He used the house as his personal residence. In March 2017, 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 2017?
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Joss basis for cost recovery is 300000 because ...View the full answer
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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