Bev owns an apartment complex she purchased 10 years ago for $500,000 with a $100,000 cash down payment accompanied by a $400,000 loan.Bev has made $75,000 of capital improvements on the complex and her depreciation claimed on the building to date is $120,000.Calculate Bev's adjusted basis in the building.

Question

Quizplus · Accepted Answer

The Answer of Bev owns an apartment complex she purchased 10 years ago for $500,000 with a $100,000 cash down payment accompanied by a $400,000 loan.Bev has made $75,000 of capital improvements on the complex and her depreciation claimed on the building to date is $120,000.Calculate Bev's adjusted basis in the building.

Bev Owns an Apartment Complex She Purchased 10 Years Ago