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Lorenzo owns two apartment buildings. He acquired Forsythia Acres on February 21, 1998, for… 1 answer below » Lorenzo owns two apartment buildings. He acquired Forsythia Acres on February 21, 1998, for $300,000 ($90,000 allocated to the land) and Square One on November 12, 2015, for $800,000 ($100,000 allocated to the land). Neither apartment complex qualifies as low-income housing. If Lorenzo writes off the cost of each building as quickly as possible, what is the effect of depreciation (cost recovery) on his AMTI for: a. 1998? b. 2015? Dec 03 2015 10:16 AM
