Converted his principal residence to rental property

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Reference no: EM131211148

This year, Ted Wolf converted his principal residence to rental property. He originally purchased the home 10 years ago for $675,000. The home was appraised at $545,000 just before he placed it on the rental market. Assuming that $15,000 of the tax basis of the home is attributable to the land on which the home is located, if the home was converted to rental property on June 20, how much depreciation expense can Ted claim on his current year return?

Reference no: EM131211148

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