How often may the depreciation be deducted?

How does this depreciation work? How do I put this on Form 4562?

  • xyz sold a building used in its manufactoring business. The selling price of the building was $50,000. It orginally cost $42,000 in 1999 and xyz deducted 7000 tax depreciation on it. Assume the book value of the building is equal to the tax adjusted basis. The life of non-residential realty is 39 years. How do I do this?

  • Answer:

    You read the instructions and think about it a little. It's not that hard.

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You read the instructions and think about it a little. It's not that hard.

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