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QUESTION
Lopez acquired a building on June 1, 2013, for $42,831,100. Compute the depreciation deduction assuming the building is classified as (a) residential...
Lopez acquired a building on June 1, 2013, for $42,831,100. Compute the depreciation deduction assuming the building is classified as (a) residential and (b) non residential.
a) If the building is classified as residential rental real estate, Lopez's cost recovery deduction is ___ for 2018.
b) If the building is classified as nonresidential real estate, Lopez's cost recovery deduction is ___ for 2018
