Paul Vote purchased the following assets this year (ignore 179 expensing and bonus depreciation when answering the
Question:
Asset ............. Purchase Date ........ Basis
Machinery .... May 12 ............... $23,500
Computers .... August 13 .............. $20,000
Warehouse ........ December 13 .............. $180,000
a. What is Paul's allowable MACRS depreciation expense for the property?
b. What is Paul's allowable alternative minimum tax (AMT) depreciation expense for the property? You will need to find the AMT depreciation tables to compute the depreciation.
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Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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