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Problem - Modified Accelerated Cost Recovery System

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Reference no: EM132478153

Problem - Modified Accelerated Cost Recovery System (MACRS)

On April 8, 2018, Holly purchased a residential apartment building. The cost basis assigned to the building is $800,000. Holly also owns another residential apartment building that she purchased on November 15, 2018, with a cost basis of $500,000.

Required -

a. Calculate Holly's total depreciation deduction for the apartments for 2018 using MACRS.

b. Calculate Holly's total depreciation deduction for the apartments for 2019 using MACRS.

Reference no: EM132478153

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