On October 21, 2018, Jay purchased a commercial building.The cost basis assigned to the building is $700,000.Jay also owns a residential apartment building he purchased on June 15, 2017 with a cost basis of $500,000.
a.Calculate Jay's total depreciation deduction for the buildings for 2018, using MACRS.
b.Calculate Jay's total depreciation deduction for the commercial building for 2019, using MACRS.
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