A-E

Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On May 12 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000;$450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part a (Algo) a. Using MACRS, what is Javier's depreciation deduction on the bullding for years 1 through 3 ? Answer is complete but not entirely correct. Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below] On May 12 of year 1, Javier purchased a bullding, Including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000;$450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2. Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part b (Algo) b. What would be the year 3 depreciation deduction if the building was sold on March 11 of year 3 ? Required information Problem 10.51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On May 12 of year 1 , Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000;$450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the bulding. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part c (Algo) c. Assume the building was purchased and placed in service on March 15 instead of May 12. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3 ? Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below] On May 12 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000;$450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part d (Algo) Assume the building is residential property. Using MACRS, what is Javier's depreciation deduction on the building for years 1 rrough 3 ? Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below] On May 12 of year 1, Javier purchased a building. including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000:$450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table1, Table. 2 . Table 3 , Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part e (Algo) W. What would be the depreciation for 2022, 2023, and 2024 if the property were nonresidential property purchased and placed in service May 12, 2005 (assume the same original basis)