In 2018, Jos purchased a house for $263,000. He used the house as his personal...
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In 2018, Jos purchased a house for $263,000. He used the house as his personal residence. In May 2021, when the fair market value of the house was $319,600, he converted the house to rental property. If required, round your answers to the nearest dollar. Click here to access depreciation tables in the textbook. a. Jos's basis for cost recovery for the property is $ b. Under MACRS, the cost recovery period for residential rental real estate is convention. years, and it is subject to the c. The cost recovery for 2021 is $
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