On August 2, 2017, Wendy purchased a new office building for $3.8 million. On October 1, 2017,
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On August 2, 2017, Wendy purchased a new office building for $3.8 million. On October 1, 2017, she began to rent out office space in the building. On July 15, 2021, Wendy sold the office building.
a. Determine Wendy’s cost recovery deduction for 2017.
b. Determine Wendy’s cost recovery deduction for 2021.
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Related Book For 
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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