Seymour scagnetti bought an apartment building for 180000


Problem

Seymour Scagnetti bought an apartment building for $180,000 and rented all of the units out to tenants. Land accounted for $30,000 of the purchase price. What is Seymour's depreciable basis for the property?

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Accounting Basics: Seymour scagnetti bought an apartment building for 180000
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