Shelley purchased a residential apartment for $1,400,000 and placed it in service on September 5. Which of the following statements is false?
A. Shelley is allowed one half-year of MACRS depreciation with respect to the apartment building this year.
B. MACRS depreciation on the building is computed under the straight-line method.
C. Shelley must allocate the purchase price between the non-depreciable land and the depreciable building.
D. None of the above statements is false.
Answer: A
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