The pool increased the value of lindas house by 7000 and it, Ask an Expert

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Linda installed a special pool for the hydro-therapeutic treatment of severe arthritis as prescribed by her doctor. The cost of installing the pool was $20,000, and her insurance company paid $5,000 towards its cost. The pool increased the value of Linda's house by $7,000 and it has a useful life of 10 years. How much of a deduction is Linda entitled to in the year of installation of the pool?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947694

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