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Elanor buys an apartment complex for $2,000,000 and begins renting units out in August of the current year. What is her cost recovery deduction for
Elanor buys an apartment complex for $2,000,000 and begins renting units out in August of the current year. What is her cost recovery deduction for years 1 and 2? What if instead of buying an apartment complex, she bought a hotel for the same price?
Could you please show how this is calculated? Thank you!
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