Question
You purchased a commercial building and lot for $590,000 on January 15th of 2010. The lot itself was valued at $130,000 when purchased. You sold
You purchased a commercial building and lot for $590,000 on January 15th of 2010. The lot itself was valued at $130,000 when purchased. You sold the lot and building on March 15th of 2018. Use MACRS depreciation and note this property is non-residential real property (39 year life). What is your allowable taxable depreciation amount for year 2011?
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
12th Edition
1439044473, 978-1439044476
