Calculate Lopez cost recovery deduction

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Question - Lopez acquired a building on June 1, 2016, for $29,698,600. Compute the depreciation deduction assuming the building is classified as (a) residential and (b) non residential.

a. Calculate Lopez's cost recovery deduction for 2021 if the building is classified as residential rental real estate.

b. Calculate Lopez's cost recovery deduction for 2021 if the building is classified as nonresidential real estate.

Reference no: EM133136761

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