patricklap4361 patricklap4361

03-01-2023
Business

Answered

amy bought a small print shop for $40,000. in the current year, as a result of depreciation deductions taken on previous income tax returns, her adjusted basis for the print shop was $38,000. also in the current year, she added a new wing to the print shop, which cost $40,000. what is her adjusted basis for the building in the current year after the addition to the building? a) $80,000 b) $78,000, less the actual cost of construction of the new addition c) $80,000, less the actual cost of construction of the new addition d) $78,000

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