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Required information [The following information applies to the questions displayed below.] On January 8 of year 1, Javier purchased a building, including the land it

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Required information [The following information applies to the questions displayed below.] On January 8 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 $1,399,500,$322,000 was allocated to the basis of the land and the remaining $1,077,500 was allocated to the basis of the buliding. (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. a. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3 ? Required information [The following information applies to the questions displayed below.] On January 8 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 $1,399,500;$322,000 was allocated to the basis of the land and the remaining $1,077,500 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. b. What would be the year 3 depreciation deduction if the bullding was sold on February 26 of year 3 ? Required information [The following information applies to the questions displayed below.] On January 8 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 $1,399,500;$322,000 was allocated to the basis of the land and the remaining $1,077,500 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. d. Assume the buliding is residential property. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3 ? Convention TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter TABLE 2b MACRS Mid-Quarter Convention: For property placed in service during the second quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter TABLE 3 Residential Rental Property Mid-Menth Convention Straight Line-27 5 Years

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