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On November 4,2020 , Blue Company acquired an asset ( 27.5 year residential real property) for $200,000 for use in its business. In 2020 and
On November 4,2020 , Blue Company acquired an asset ( 27.5 year residential real property) for $200,000 for use in its business. In 2020 and 2021, respectively, Blue than 27.5 year assets). Blue should have taken $910 and $7,272 cost recovery in 2020 and 2021 , respectively. On January 1,2022 , the asset was sold for $180,000. Blue took the correct percentages for 2022. What is the difference in the amount of 2022 loss as a result of incorrectly applying cost recovery percentages in years 2020 and 2021 ? Round your answer to the nearest dollar, and do not include cents, commas or dollar sign. For example: if the answer is 100 simply write 100 , (and 100.00)
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