On May 2, 2015, Scott purchased a commercial building. The cost basis assigned to the building is $600,000. Scott also owns a residential apartment building he purchased on June 15, 2014 with a cost basis of $400,000.
a.
Calculate Scott's total depreciation deduction for the buildings for 2015, using the Modified Accelerated Cost Recovery System.
b.
Calculate Scott's total depreciation deduction for the buildings for 2016, using the Modified Accelerated Cost Recovery System.

Question

On May 2, 2015, Scott purchased a commercial building. The cost basis assigned to the building is $600,000. Scott also owns a residential apartment building he purchased on June 15, 2014 with a cost basis of $400,000.
a.​
Calculate Scott's total depreciation deduction for the buildings for 2015, using the Modified Accelerated Cost Recovery System.
b.​
Calculate Scott's total depreciation deduction for the buildings for 2016, using the Modified Accelerated Cost Recovery System.

Quizplus · Accepted Answer

The Answer of On May 2, 2015, Scott purchased a commercial building. The cost basis assigned to the building is $600,000. Scott also owns a residential apartment building he purchased on June 15, 2014 with a cost basis of $400,000.
a.​
Calculate Scott's total depreciation deduction for the buildings for 2015, using the Modified Accelerated Cost Recovery System.
b.​
Calculate Scott's total depreciation deduction for the buildings for 2016, using the Modified Accelerated Cost Recovery System.

On May 2, 2015, Scott Purchased a Commercial Building