Mark owns a single family residence. Using the straight-line depreciation method, what is the theoretical economic life of Mark's property

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asked Jan 10, 2021 151k views

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Valeriy Gorbatikov · Answer 1 · 2021-01-16T21:35:23+0000

Answer:

27.5 years

Step-by-step explanation:

The property is depreciated on a straight line basis following the tax life of 27.5 year. The general depreciation system of the modified accelerated cost recovery system (MACRS) the IRS usually set 27.5 years sets a recovery period for residential rental property

Mark owns a single family residence. Using the straight-line depreciation method, what is the theoretical economic life of Mark's property

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