Anton purchases a building on May 4, 2002, at a cost of $270,000. The land is properly allocated $30,000 of the cost. Anton sells the building on October 18, 2019, for $270,000. Refer to the MACRS Depreciation Tables to answer the following questions. Round percentages to four decimal places. Round depreciation amounts to the nearest dollar. Determine his gain or loss on the sale if he uses the regular MACRS system and the building is a. An apartment building b. An office building c. If Anton makes a straight-line election on the building (40-year ADS life then his on the sale is $ Election to Expense Assets (LO. 5) In 2019, Theo purchases $16,000 of Section 179 property for use in his delivery business. During 2019, he has $12,000 in taxable income from his business. Assume that Theo elects not to claim bonus depreciation. a. Theo's maximum Section 179 deduction in 2019 is $ . b. Theo's business taxable income for 2020 is $5,000. He purchases $1,000 of new Section 179 property in 2020. If Theo has a If Theo took a deduction equal to his 2019 taxable income, his maximum Section 179 deduction for 2020 is $ carry forward, his maximum Section 179 deduction for 2020 is $ Anton purchases a building on May 4, 2002, at a cost of $270,000. The land is properly allocated $30,000 of the cost. Anton sells the building on October 18, 2019, for $270,000. Refer to the MACRS Depreciation Tables to answer the following questions. Round percentages to four decimal places. Round depreciation amounts to the nearest dollar. Determine his gain or loss on the sale if he uses the regular MACRS system and the building is a. An apartment building b. An office building c. If Anton makes a straight-line election on the building (40-year ADS life then his on the sale is $ Election to Expense Assets (LO. 5) In 2019, Theo purchases $16,000 of Section 179 property for use in his delivery business. During 2019, he has $12,000 in taxable income from his business. Assume that Theo elects not to claim bonus depreciation. a. Theo's maximum Section 179 deduction in 2019 is $ . b. Theo's business taxable income for 2020 is $5,000. He purchases $1,000 of new Section 179 property in 2020. If Theo has a If Theo took a deduction equal to his 2019 taxable income, his maximum Section 179 deduction for 2020 is $ carry forward, his maximum Section 179 deduction for 2020 is $