On May 12 of year 1 Javier purchased a building, including the land it was on, t
ID: 2704748 • Letter: O
Question
On May 12 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000; $450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
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Using MACRS, what is Javier
On May 12 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000; $450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)
On May 12 of year 1 Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,495,000; $450,000 was allocated to the basis of the land and the remaining $1,045,000 was allocated to the basis of the building. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.)Explanation / Answer
Year
method
RECOVERY
ORIGINAL BASIS
RATE
DEPRECIATION
1
SL
39
1,045,000
0.321%
3354.45
2
1,045,000
2.564 %
26793.8
3
1,045,000
2.564 %
26793.8
Year
method
RECOVERY
ORIGINAL BASIS
RATE
DEPRECIATION
1
SL
39
1,045,000
0.321%
3354.45
2
1,045,000
2.564 %
26793.8
3
1,045,000
2.564 %
26793.8
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