On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building

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On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building is $800,000. Holly also owns another residential apartment building that she purchased on November 15, 2018, with a cost basis of $500,000.

a. Calculate Holly’s total depreciation deduction for the apartments for 2018 using MACRS.

b. Calculate Holly’s total depreciation deduction for the apartments for 2019 using MACRS.

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Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Mar 02, 2019 06:34 AM

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On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building

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Income Tax Fundamentals 2019

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