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Tanger, LP purchased a residential rental property for $4 million. The land was assessed at $750,000. Tanger, LP placed the real estate in service on May 21st. What is the MACRS depreciation expense

Tanger, LP purchased a residential rental property for $4 million. The land was assessed at $750,000. Tanger, LP placed the real estate in service on May 21st. What is the MACRS depreciation expense for the initial year of operation, the year of purchase?

1.$73,872

2.$118,181

3.$9,848

4.$90,909

5. None of the above

Jul 19 2021 View more View Less

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