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Deductions & credits
Thank you so much for the very thoughtful reply. I agree there are a lot of questions that arise from all of this. In my particular case the detached building is a shop that will cost 200-300k with value of original property at about 1 million. It would be used to store RV’s and a boat. So I would say it improves the value considerably but not used for a residential living space.
3 weeks ago