Determine the amount of the cost recovery

Reference no: EM13298917

Janet purchased her personal residence in 2000 for $250,000, In January of 2009 she converted it to rental property. The fair market value at the time of conversion was $210,000.

Determine the amount of the cost recovery that can be taken in 2009.

Determine the amount of cost recovery that can be taken in 2009 if the fair market value of the property were $350,000.

Reference no: EM13298917

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