Brent purchases a new warehouse building on May 16, 2013, for $6,000,000 exclusive of the cost of the land) . What is Brent's 2014 depreciation deduction?
A) $ - 0 -
B) $ 76,924
C) $ 96,300
D) $119,040
E) $400,000
Correct Answer:
Verified
Q44: The mid-quarter convention
I.never applies to real estate.
II.is
Q49: Nonresidential commercial realty placed in service on
Q50: Residential rental real estate placed in service
Q51: Serena owns a van that she paid
Q52: On March 23, 2014, Saturn Investments Corporation
Q53: Rafael bought an apartment building on March
Q55: What is the MACRS recovery period for
Q57: Aaron purchases a taxicab 5-year MACRS property)
Q59: Ralph buys a new truck 5-year MACRS
Q60: The mid-month convention under MACRS provides that
A)Depreciation
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents