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Required information [The following information applies to the questions displayed below.] On June 2 of year 1 , Javier purchased a building, including the land
Required information [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.) (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 ? b. What would be the year 3 depreciation deduction if the building was sold on July 18 of year 3 ? 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 ? d. Assume the building is residential property. Using MACRS, what is Javier's depreciation deduction on the building for years 1 through 3 ? e. What would be the depreciation for 2021,2022 , and 2023 if the property were nonresidential property purchased and placed in service June 2, 2004 (assume the same original basis)
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