Lateefah purchased a new office building on April 1, 2018, for $3,000,000. On August 20, 2022, the building was sold. What is the cost recovery deduction for the year of purchase and the year of sale?

What will be an ideal response?


Year of purchase: $3,000,000 × .01819 = $54,570.
Year of sale: $3,000,000 × .02564 × 7.5/12 = $48,075.

Business

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