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thanks Lopez acquired a buliding on June 1,2017 , for $45,972,600. Compute the depreciation deduction assuming the bulding is classified as (a) residential and (b)
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Lopez acquired a buliding on June 1,2017 , for $45,972,600. Compute the depreciation deduction assuming the bulding is classified as (a) residential and (b) non residential. Click here to access the depreciation table to use for this problem. If required, round your answers to the nearest dollar. a. Calculate Lopez's cost recovery deduction for 2022 if the building is classifled as residential rental real estate. b. Calculate Lopez's cost recovery deduction for 2022 if the buliding is classified as nonresidential real estate. Diana acquires, for $159,200, and places in service a 5 -year class asset on December 19,2022 . It is the only asset that Dlana acquires during 2022. Dlana does not elect immediate expensing under 5 179. She elects additional first-year deprecation. Click here to access the depreciation table to use for this problem. Caiculate Diana's total cost recovery deduction for 2022. Euclid acquires a 7 -year class asset on May 9,2022 , for $176,500 (the only asset acquired during the year). Euclid does not elect immediate expensing under 5179 . He does not claim any available additional first-year depreciation. Click here to access the depreciation table to use for this problem. If required, round your answers to the nearest dollar. Calculate Euclid's cost recovery deduction for 2022 and 2023. 2022:$ 2023:1 Step by Step Solution
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