On August 21,2013,Jay purchased a commercial building.The cost basis assigned to the building is
$800,000.Jay also owns a residential apartment building he purchased on June 15,2012 with a cost basis of $500,000.
a.Calculate Jay's total depreciation deduction for the buildings for 2013,using MACRS.
b.Calculate Jay's total depreciation deduction for the apartment building for 2014,using MACRS.
Correct Answer:
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