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You purchased a commercial building and lot for $290,000 on October 3rd, 2014. The lot itself was valued at $62,000 when purchased. You sold the
"You purchased a commercial building and lot for $290,000 on October 3rd, 2014. The lot itself was valued at $62,000 when purchased. You sold the lot and building for $510,000 on May 15th, 2015. Use MACRS depreciation and note that this property is considered non-residential real property. What is your allowable tax depreciation amount in 2015?"
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