Riverside LLC purchased and placed in service the following…

Riverside LLC purchased and placed in service the following assets in 2024: PIS Date Asset Cost 2/26/2024 Computers $1,000,000 6/12/2024 Gen. Manufacturing Equipment $2,500,000 Riverside LLC purchased no other assets during 2024, and its net income for the year is $50,000,000 before considering cost recovery deductions. What is the maximum tax depreciation deduction Riverside LLC may take in 2024, assuming the company elects §179 expense and bonus depreciation?  Link to class life and depreciation tables: Link Show all your work.  

In 2024, Sasha and Peter entered into a §1031 like-kind exch…

In 2024, Sasha and Peter entered into a §1031 like-kind exchange. Sasha exchanged an apartment building in Washington for Peter’s apartment building in Oregon. Sasha’s apartment building had a fair market value of $650,000 and an adjusted basis of $400,000. Peter’s building has a fair market value of $500,000 and an adjusted basis of $200,000. Peter also paid Sasha $150,000 in cash as part of the exchange. Calculate Sasha’s realized gain or loss. Calculate Sasha’s recognized gain or loss. Calculate Sasha’s basis for the land received Show all your work.