Taxpayer could claim deductions for depreciation

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Reference no: EM131352561

Indicate whether a taxpayer could claim deductions for depreciation or amortization of the following property:

a) Land used in the taxpayer’s farming business.

b) A duplex- the taxpayer lives in one-half while he rents the other half one.

c) The portion of the taxpayer’s residence that she uses as a home office.

d) The taxpayer’s former residence, which he listed for rental temporarily until he is able to sell it. The residence was listed in late November and was not rented as of the end of the taxable year.

e) A mobile home that the taxpayer initially purchased and used while he was in college and this year began renting to several students.

f) The costs attributable to good will and a convent not to compete.

Reference no: EM131352561

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