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Jenny constructed a building for use as a residential rental property. The cost of the building was $180,000, and it was placed in service on August 1, 2013. The building has 27.5 year MACRS life. What is the amount of depreciation on the building for 2018 for tax purposes?

Respuesta :

Answer:

$6,545.45

Explanation:

Given that,

Cost of building = $180,000

MACRS life of building = 27.5 years

Therefore, the amount of depreciation on the building is calculated by dividing the cost of building by MACRS life of building.

Amount of depreciation for the building:

= Cost of building ÷ MACRS life

= $180,000 ÷ 27.5

= $6,545.45

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