Multiple Choice
With respect to residential rental property
A) 80% or more of the gross rental income from the building or structure must be rental income from dwelling units in order for it to be classified as residential rental property.
B) hotels are not included in this category if less than half of the units are used on a transient basis.
C) 80% or more of the net rental income from the building or structure must be rental income from dwelling units in order for it to be classified as residential rental property.
D) gain is not subject to the depreciation recapture provisions if the property is held more than one year.
Correct Answer:
Verified
Correct Answer:
Verified
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