Eric lives in a home with a six-plex located at the rear of, Ask an Expert

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Eric lives in a home with a six-plex located at the rear of the property. On his tax returns, he allocates 60% of all expenses to the apartment building. He is getting really tired of dealing with 6 tenants, and is seriously thinking of moving in with his girlfriend.

Eric inherited the property from his parents two years ago. It was worth $600,000 then, and $1 million now. What are Eric's options?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9408130

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