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, 1997. The building has a 27.5-year MACRS life. What is the amount of depreciation on the building for 2019 for tax purposes?

Answer 1

Basis:$82,488

Date Placed in Service: August of 1997

Recovery Period: 27.5 years

Depreciation Method: Straight Line Method

IRS Convention: Half-Year Convention

MACRS 27.5-Year Depreciation Schedule

Year	Adjusted Basis	Rate %	Depreciation	Cumulative	Book Value	Method
1997	82488	1.82	1500	1500	80988	SL
1998	80988	3.64	3000	4499	77989	SL
1999	77989	3.64	3000	7499	74989	SL
2000	74989	3.64	3000	10498	71990	SL
2001	74990	3.64	3000	13498	68990	SL
2002	68990	3.64	3000	16498	65990	SL
2003	65990	3.64	3000	19497	62991	SL
2004	62991	3.64	3000	22497	59991	SL
2005	59991	3.64	3000	25496	56992	SL
2006	56992	3.64	3000	28496	53992	SL
2007	53992	3.64	3000	31495	50993	SL
2008	50993	3.64	3000	34495	47993	SL
2009	47993	3.64	3000	37495	44993	SL
2010	44993	3.64	3000	40494	41994	SL
2011	41994	3.64	3000	43494	38994	SL
2012	38994	3.64	3000	46493	35995	SL
2013	35995	3.64	3000	49493	32995	SL
2014	329954	3.64	3000	52492	29996	SL
2015	29996	3.64	3000	55492	26996	SL
2016	26996	3.64	3000	58491	23997	SL
2017	23997	3.64	3000	61491	20997	SL
2018	20997	3.64	3000	64491	17997	SL
2019	17997	3.64	3000	67490	14998	SL
2020	14998	3.64	3000	70490	11998	SL
2021	11998	3.64	3000	73489	8999	SL
2022	8999	3.64	3000	76489	5999	SL
2023	5999	3.64	3000	79488	3000	SL
2024	3000	3.64	3000	82488	0	SL

...The amount of depreciation on the building is $3000

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