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What is the effect of depreciation on his AMTI

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Problem - Lonzo owns two apartment buildings. He acquired Forsythia Acres on February 21, 1998, for $300,000 ($90,000 allocated to the land) and Square One on November 12, 2019, for $800,000 ($100,000 allocated to the land). Neither apartment complex qualifies as low-income housing. If Lonzo elects to deduct the cost of each building as quickly as possible, what is the effect of depreciation (cost recovery) on his AMTI for: a. 1998? b. 2019?

Reference no: EM132669487

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