Jenny Constructed a Building for Use as a Residential Rental

question 58

Multiple Choice

Jenny constructed a building for use as a residential rental property. The cost of the building was $164,975, and it was placed in service on August 1, 1990. The building has a 27.5-year MACRS life. What is the amount of depreciation on the building for 2014 for tax purposes?

• A)$2,250
• B)$3,000
• C)$6,000
• D)$6,547
• E)None of the above