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Texas Real Estate Exam

Category - Texas

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For income tax purposes, on which of the following could depreciation be taken?

Raw land
Owner occupied residential property
Owner occupied farmhouse
Orchards

Explanation

Answer: D - Fruit and nut trees can be depreciated as property held for the production of income, trade, or business. Owner occupied residential or farm property and raw land cannot be depreciated.

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Texas Real Estate Exam

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