John Purchases Residential Rental Property on June 30, 2018 for a Cost

question 105

Multiple Choice

John purchases residential rental property on June 30, 2018 for a cost of $290,000.Of this amount, $140,000 is allocable to the cost of the home and the remaining $150,000 is allocable to the cost of the land.What is John's maximum depreciation deduction for 2018?

• A)$2,758
• B)$1,485
• C)$1,061
• D)$370
• E)None of the above

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