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Herbie is the owner of two apartment buildings. Following is information related to the two buildings: Building A Date acquired: 3/15/97 Total cost: $350,000 Cost
Herbie is the owner of two apartment buildings. Following is information related to the two buildings: Building A Date acquired: 3/15/97 Total cost: $350,000 Cost allocated to land: $56,000 Building B Date acquired: 8/31/04 Total cost: $555,000 Cost allocated to land: $99,900 Herbie elected the maximum depreciation available for each asset. What is the effect of depreciation on AMTI for 2017? (Use Table 6A-6 and Table 13A-1) (round your intermediate calculations to the nearest whole dollar amount.) Building A AMT Adjustment? Building B AMT Adjustment? Total?
Building A
Date acquired: 3/15/97
Total cost: $350,000
Cost allocated to land: $56,000
Building B
Date acquired: 8/31/04
Total cost: $555,000
Cost allocated to land: $99,900
Herbie elected the maximum depreciation available for each asset. What is the effect of depreciation on AMTI for 2017? (Use Table 6A-6 and Table 13A-1) (round your intermediate calculations to the nearest whole dollar amount.)
Building A AMT Adjustment?
Building B AMT Adjustment?
Total?
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