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Calculate holly total depreciation deduction for apartments

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Reference no: EM133150601

Question - On July 8, 2020, Holly purchased a residential apartment building. The cost basis assigned to the building is $750,000. Holly also owns another residential apartment building that she purchased on November 15, 2020, with a cost basis of $410,000.

Required -

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

b. Calculate Holly's total depreciation deduction for the apartments for 2021 using MACRS.

Reference no: EM133150601

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