Study Barn - National Portion Sales Agent

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If an owner of an income property added a swimming pool to his property, how would this be treated for federal income tax purposes?

A. Added to the cost basis only.

B. Taken the first year as an expense.

C. It would have no effect on the income tax.

D. Depreciated over the life of the improvement.

Major or capital improvements added to an income, trade, or business property are to be depreciated over the life of the improvement.

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Educating realtors for 20 years

Exam Details

This exam covers the national portion of the Sales Agent Exam.

Taken: 2,060 times

Added: 8/18/2008

Liked: 3 times

Audience: Professional

Tags: Agent, Estate, Exam, Real, Sales

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Comments

My God, now I am nervous, my course I took had 40 percent of stuff unheard in my class.

Posted: 10/22/2009