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  3. 21.) lopez acquired and placed in service a buildi

21.) Lopez acquired and placed in service a building on June 1, 2018, for $1,000,000....

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Accounting

21.) Lopez acquired and placed in service a building on June 1, 2018, for $1,000,000. Calculate Lopezs cost recovery deduction for 2023 if the building is:

a. Classified as residential rental real estate.

b. Classified as nonresidential real estate.

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\table[[LMN, Inc],[Trial Balance before Adjustments,,],[December 31,2022,,],[,Debits,Credits],[Cash,$17,100,],[Accounts Receivable,18,800,],[Supplies,3,400,],[Prepaid Rent,2,500,],[Equipment,54,000,],[Accumulated Depreciation - Equipment,,$10,800