On February 8, 2018, Holly purchased a residential apartmentbuilding. The cost basis assigned to the building is $209,000.Holly also owns another residential apartment building that shepurchased on December 15, 2018, with a cost basis of $588,000.
Click here to access the depreciationtables.
If required, round intermediate calculations and finalanswers to nearest dollar.
a. Calculate Holly's total depreciationdeduction for the apartments for 2018 using MACRS.
$
b. Calculate Holly's total depreciationdeduction for the apartments for 2019 using MACRS.
$
Calculate the following:
Click here to access the various depreciation tables. Ifrequired, round your final answers to the nearest dollar. If youranswer is zero, enter "0".
a. The first year of depreciation on aresidential rental building costing $200,000 purchased July 2,2018.
$
b. The second year (2019) of depreciation on acomputer costing $5,000 purchased in May 2018, using the half-yearconvention and accelerated depreciation considering any bonusdepreciation taken.
$
c. The first year of depreciation on a computercosting $2,800 purchased in May 2018, using the half-yearconvention and straight-line depreciation with no bonusdepreciation.
$
d. The third year of depreciation on businessfurniture costing $8,000 purchased in March 2016, using thehalf-year convention and accelerated depreciation but no bonusdepreciation.
$
