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PS55, LLC, a calendar year taxpayer, made two asset purchases this year. The first purchase was a commercial office building costing $52,000,000 and the second
PS55, LLC, a calendar year taxpayer, made two asset purchases this year. The first purchase was a commercial office building costing $52,000,000 and the second purchase was a multi-family residential apartment building costing $48,000,000. PS55, LLC performed minor construction and rehabilitation to both structures. PS55, LLC placed the residential apartment building in service on March 1st and the office building in service on December 10th. How many months of tax depreciation expense is PS55, LLC allowed for each asset? A. 10.5 for months for the office building and 1.5 months of for the residential apartment building. B. 10.5 for months for the residential apartment building and 1.5 months of for the office building. C. 6 months for both investment properties. D. A half month for the office building and 9.5 months of for the residential apartment building. E. A half month for the residential apartment building and 9.5 months of for the office building
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