Question

Jenny constructed a building for use as a residential rental property. The cost of the building was $82,488, and it was placed in service on August 1, 1994. The building has a 27.5-year MACRS life. What is the amount of depreciation on the building for 2018 for tax purposes?

Answer 1

Answer: $3000

Step-by-step explanation:

Depreciation = 82488/27.5 =$3000