On August 11,2017,Nancy Acquired and Placed into Service Residential Rental

question 72

Multiple Choice

On August 11,2017,Nancy acquired and placed into service residential rental property,which cost $430,000; the cost of the land has been excluded.Nancy annually elects the maximum allowed Sec.179 deduction.The total depreciation for the year is (rounded)

• A)$5,865.
• B)$4,141.
• C)$5,117.
• D)$15,636.

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Definitions:

Child Support

Is money paid by the non-custodial parent to the custodial parent for the purpose of supporting the children of a separated marital, cohabiting, or sexual relationship.

Divorce

The legal termination of a marriage by a court or other competent body, officially dissolving the marital union between two people.

Custodial Fathers

Fathers who have been granted primary legal and/or physical custody of their children post-divorce or separation.

Non-custodial Fathers

Fathers who do not have legal custody of their children but may have rights to visitation and are often required to pay child support.