Share
Explore BrainMass

Calculate using macrs

On august 8, 2012, Holly purchased a residential apartment building. Cost basis assigned to the building is 800,000. she owns another residential apartment building she purchased June 15, 2012. cost basis of 500,000.

a. Calculate Holly's total depreciation deduction for the apartments for 2012 using macrs
b. Calculate Holly's total depreciation deduction for the apartments for 2013 using macrs

Solution Preview

Please see the below for the tutorial. Please don't hesitate to ask/message me for any clarification.

According IRS' publications on MACRS Holly's residential apartment buildings are classified as residential rental property with a recovery period 27.5 years. Moreover the mid-month ...

$2.19