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Lucy purchased a building for $700,000 on January 1, 2012. The purchase price does not include land. Lucy intends to keep the building for
Lucy purchased a building for $700,000 on January 1, 2012. The purchase price does not include land. Lucy intends to keep the building for 20 years. 1. Cost recovery for 2012 if the property is residential real property. 2. Cost recovery for 2012 if the property is a warehouse. 3. Cost recovery for 2013 if the property is residential real property. 4. Cost recovery for 2013 if the property is a warehouse.
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