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TaraTara owns a house that she has been living in for eight years. She purchased...

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Accounting

TaraTara owns a house that she has been living in for eight years. She purchased the house for $200,000 and the FMV today is $160,000. She is moving into her friend's house and has decided to convert her residence to rental property. Assume 20% of the property's value is allocated to land.

A. what is the basis of the house fordepreciation?

The basis of the house for depreciation is $.......

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