Required information Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On June 2 of year 1 , Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,385,000;$380,000 was allocated to the basis of the land and the remaining $1,005,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part b (Algo) What would be the year 3 depreciation deduction if the building was sold on July 18 f year 3 ? Answer is complete but not entirely correct. Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On June 2 of year 1 , Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,385,000;$380,000 was allocated to the basis of the land and the remaining $1,005,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2. Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part c (Algo) c. Assume the building was purchased and placed in service on March 1 instead of June 2. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3? Problem 10-51 (LO 10-2) (Algo) [The following information applies to the questions displayed below.] On June 2 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,385,000;$380,000 was allocated to the basis of the land and the remaining $1,005,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part d (Algo) d. Assume the building was purchased and placed in service on June 2 of year 1 and is residential property. [The following information applies to the questions displayed below.] On June 2 of year 1 , Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,385,000;$380,000 was allocated to the basis of the land and the remaining $1,005,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. Problem 10-51 Part e (Algo) What would be the depreciation for 2023,2024 , and 2025 if the property were onresidential property purchased and placed in service June 2, 2006 (assume the ame original basis)
