Aleesia purchased a rental property in April 2017. Her basis for depreciation was $210,000. She has no adjustments to her basis. After preparing her own taxes for five years, she went to a paid preparer for her 2021 return. The preparer realized. Aleesia had not claimed depreciation any of the previous years. She was allowed to claim $5,409 for 2016, and $7,636 each year for 2017, 2018, 2019, 2020, and 2021. 210.0⁰0

Aleesia purchased a rental property in April 2017. Her basis for depreciation was $210,000. She has no adjustments to her basis. After preparing her own taxes for five years, she went to a paid preparer for her 2021 return. The preparer realized. Aleesia had not claimed depreciation any of the previous years. She was allowed to claim $5,409 for 2016, and $7,636 each year for 2017, 2018, 2019, 2020, and 2021. 210.0⁰0

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 86P

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