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Abby Owns a Condominium in the Great Smokey Mountains

question 24

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Abby owns a condominium in the Great Smokey Mountains. During the year, Abby uses the condo a total of 21 days. The condo is also rented to tourists for a total of 79 days and generates rental income of $12,500. Abby incurs the following expenses: Abby owns a condominium in the Great Smokey Mountains. During the year, Abby uses the condo a total of 21 days. The condo is also rented to tourists for a total of 79 days and generates rental income of $12,500. Abby incurs the following expenses:   Using the IRS method of allocating expenses, the amount of depreciation that Abby may take with respect to the rental property will be A) $ 5,074. B) $ 8,515. C) $ 7,900. D) $10,000. Using the IRS method of allocating expenses, the amount of depreciation that Abby may take with respect to the rental property will be


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