On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building
Question:
On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building is $800,000. Holly also owns another residential apartment building that she purchased on November 15, 2018, with a cost basis of $500,000.
a. Calculate Holly’s total depreciation deduction for the apartments for 2018 using MACRS.
b. Calculate Holly’s total depreciation deduction for the apartments for 2019 using MACRS.
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Related Book For 
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
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