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Preparing your own tax return

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As a tax preparer, preparing your own tax return for 2022, you have three rental properties showing total rental income of $101,000.00 with $80,000.00 in total expenses (this does not include CCA and is your only income). You have never depreciated your properties, but this is the first year you are showing a profit. My question is, would you depreciate them this year? Tell me yes or no and explain why.

Reference no: EM133556135

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