Question
On June 8, 2021, Holly purchased a residential apartment building. The cost basis assigned to the building is $650,000. Holly also owns another residential apartment
On June 8, 2021, Holly purchased a residential apartment building. The cost basis assigned to the building is $650,000. Holly also owns another residential apartment building that she purchased on October 15, 2021, with a cost basis of $400,000. Click here to access the depreciation tables. Round your answers to the nearest dollar.
a. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS. $ fill in the blank
b. Calculate Holly's total depreciation deduction for the apartments for 2022 using MACRS. $ fill in the blank
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Auditing A Practical Manual For Auditors
Authors: Lawrence Robert Dicksee
1st Edition
1360462546, 978-1360462547
