Being a sole proprietorship can i claim depreciation on an apartment purchased for residential purposes. Please state the rates and also the journal entries for buying an apartment by bank loan

kaushal mishra

May 16, 2018, 6:24 p.m.

Answers!

Shilpi Semwal

May 25, 2018, 9:44 a.m.

No u cannot claim depriciation on an apartment purchase for residential purpose as it is being used for personal purpose

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