The cost recovery basis for property converted from personal use to business use is the fair market value of the property at the time of the conversion.
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Q4: In a farming business, MACRS straight-line cost
Q5: All eligible real estate under MACRS is
Q7: Taxpayers may elect to use the straight-line
Q8: Under the MACRS straight-line election for personality,the
Q11: Land improvements are generally not eligible for
Q11: The cost recovery period for new farm
Q11: If more than 40% of the value
Q13: The key date for calculating cost recovery
Q13: Motel buildings are classified as residential rental
Q15: Antiques are not eligible for cost recovery.
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