Other Information: The property at 26 Hart Street was purchased in 2022 for $1,180,000....
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Accounting
Other Information: The property at Hart Street was purchased in for $ The property at Barton Boulevard was sold in for $ Ms Becker had furnished this property several years ago at a cost of $ The UCC for the class properties was $ on January Given the condition of the furnishings, they were simply given to the former tenants, who agreed to take them when they moved out. In Ms Becker spent $ on capital improvements to the property at Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changes before agreeing to the lease. These improvements will enhance the value of this property. The building at Flagler Street was sold in for $ Required: Calculate Ms Becker's minimum rental income for You should provide a sepa rate CCA calculation for each property and specify how much CCA should be claimed for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the furniture. Assume that the rental activity is not a business and that the property values and costs shown are for the building only.
Other Information:
The property at Hart Street was purchased in for $
The property at Barton Boulevard was sold in for $
Ms Becker had furnished this property several years ago at a cost of $ The UCC for
the class properties was $ on January Given the condition of the furnishings,
they were simply given to the former tenants, who agreed to take them when they moved
out.
In Ms Becker spent $ on capital improvements to the property at Mark Avenue.
While none of the changes were required, the incoming tenant insisted on the changes before
agreeing to the lease. These improvements will enhance the value of this property.
The building at Flagler Street was sold in for $
Required: Calculate Ms Becker's minimum rental income for You should provide a sepa
rate CCA calculation for each property and specify how much CCA should be claimed for each
building. Include in your solution any income tax consequences associated with the sale of the two
buildings and the furniture. Assume that the rental activity is not a business and that the property
values and costs shown are for the building only.
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