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Calculate Holly total depreciation deduction

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Reference no: EM132676250

Problem - On March 8, 2019, Holly purchased a residential apartment building. The cost basis assigned to the building is $700,000. Holly also owns another residential apartment building that she purchased on October 15, 2019, with a cost basis of $400,000.

Required -

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

b. Calculate Holly's total depreciation deduction for the apartments for 2020 using MACRS.

Reference no: EM132676250

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