At the time he converted the home to rental property

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Reference no: EM131353102

F purchased a mobile home to live in while at college. The home cost $50,000. When he graduated, he left the home in the trailer park and rented it. At the time he converted the home to rental property, it had a fair market value of $15,000.

a) What is F’s basis for depreciation?

b) F now lives 75 miles away from his alma mater. Can he deduct the cost of traveling back to check on his rental property (including those trips on which he also attended a football game)?

Reference no: EM131353102

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