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Required information [The following information applies to the questions displayed below.) Julia purchased a warehouse building, including the land it was on, for use in
Required information [The following information applies to the questions displayed below.) Julia purchased a warehouse building, including the land it was on, for use in her business. 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.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) c. Assume the building was purchased and placed in service on March 1. Using MACRS, what is Julia's depreciation deduction on the building for years 1 through 3? Year Depreciation deduction 1 2 3 3
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