Question
Carl purchased an apartment complex for $1.7 million on March 17 of year 1. of the purchase price, $600,000 was attributable to the land the
Carl purchased an apartment complex for $1.7 million on March 17 of year 1. of the purchase price, $600,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $66,000. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.)
A. What is Carl's allowable depreciation deduction for his real property for years 1 and 2? (Round your final answers to the nearest whole dollar amount.)
Year 1=
Year 2=
B. What is Carl's allowable depreciation deduction for year 3 if the real property is sold on January 2 of year 3? (Do not round intermediate computations. Round your final answer to the nearest whole dollar amount.)
Year 3=
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