es on a =================================================== ACC 401 Week 3 Assignment Chapter 6 ( UOP ) FOR MORE CLASSES VISIT www . acc401assist . com
es on a =================================================== ACC 401 Week 3 Assignment Chapter 6 ( UOP ) FOR MORE CLASSES VISIT www . acc401assist . com
39 . David is a college professor who does some consulting work on the side . He uses 25 % of his home exclusively for the consulting practice . He is single and 63 years old . His AGI ( without consideration of consulting income ) is $ 45,000 . Other information follows :
Income from consulting business $ 4,000 Consulting expenses other than home office 1,500 Total costs relating to home : Interest and taxes 6,500 Utilities 1,500 Maintenance and repairs 450 Depreciation ( business part only ) 1,500
43 . Janet purchased her personal residence in 2000 for $ 250,000 . In January 2009 she converted it to rental property . The fair market value at the time of conversion was $ 210,000 .
a . Determine the amount of cost recovery that can be taken in 2009 :