Brittany purchased a building for $500,000 on January 1, 2011. The purchase price does not include land.
Question:
Brittany purchased a building for $500,000 on January 1, 2011. The purchase price does not include land. Calculate the cost recovery for 2011 and 2019 if the real property is:
a. Residential real property.
b. A warehouse.
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Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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