Question

1 Approved Answer

Posted on Aug 30, 2024

5.91 Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year Year 1 33.33% 20.00% 14.29% 10.00% Year 2 44.45

5.91 Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year Year 1 33.33% 20.00% 14.29% 10.00% Year 2 44.45 32.00 2449 18.00 Year 3 14.81 19.20 17.49 14 40 Year 4 7.41 11.52 12.49 1152 YCATS 11.52 8.93 9.22 Year 6 5.76 8.92 7.37 5285 Year 7 8.93 6.55 5.90 4 888 Year 8 D14.466.55 5.90 4522 Year 9 6.56 14.462 Year 10 6.55 446) Year 11 SD3.28 4.462 Year 12 4461 Year 13 5.91 4.462 Year 14 5.90 4.461 Year 15 5.914.462 Year 16 2.954.461 Year 17 4.462 Year 18 4.461 Year 19 4.462 4.461 Year 20 2.231 Year 21 TABLE - MACRS Mid-Quarte Convention For property placed in service during the first quarter Depreciation Rate for Recovery Perod Ya 7 Year Year 1 35004125 004 Year 2 26002143 Yenr 3 15.60 151 Year 4 11 01 10.93 Years DO 8.75 Year 6 1388.74 Year 7 8 .75 Year 8 109 TABLE 26 MACRS Mid-Quarter Convention For property placed in service during the second quarter Deprecation Rate for Recovery Period 5. Year 7 Year Yeur1 25 00 17 85% Year 2 30.00 23:47 Year 3 18.00 16.76 Year 4 1137 1 197 Year 5111.37 8. Year 6 4.268.87 Year 7 8 .87 Year 134 TABLE 2 MACRS Mid Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5. Year 7. Year Year! 15.00 10.7156 200125.51 20.40 18.22 Year 4 12:24 13.02 Year 5 11.30 910 Year 6 7 .06 885 Year 86 Years SS TABLE 2d MACRS Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5 Year 7 Year Year 5. 00 3 5 Year 38.00 27.35 Year 122 196 36 94 9 7.60 TABLE 3 Residential Rental Property Mid-Monik Convention Straight line 275 Years Month Property Maced le Service Month 3 Momth 4 Month Month 6 Month Month Month 9 3485131820287946257661 2773 1970 16676113110619 0.75 0.455 0.152 3646 3.636363636363636363636363636 3.636 363713637 3.637 3.6363.636363636363636 Your 363636363.636 3.63636363636 3.636 3.6363.637 3.63738373.6373637 1873.637 3.6373.637 3.637 3.636363636363636 Year 3.636 3.636 3.636 3.636 3.6363.636 3.6373.637 3.6373637 3.6373.637 3.6373.637 3.6363.6363.636 3.636 3.636363636363.636 3.6363.6363.6373.637 3.637 3.637 3.6373.637 3.6373.637 3.637 3.637 3.636 3.6.363.636 Yes 3.636 3.636 3.6363.6363.636363636373.637 3.637 Year 2.837 1.6373.6373.6373.6373.6373.6363.63636363636363636 Year 2. 6 3.6363.6363.6363636363636393.6373.6373873.6373837 3616 Year 1626363636363.6363.6363.6363637363736373.6373.6373837 Year 2.637 3.6373.6373.63738373.6333636363636363.63636363.686 Year 3.6363.6363.6363.6363.636363636373.6372.6373837 1833617 3.6373.637363736373837 3.6373.636363636363636363636 Year 3.6363.636363636363.6363.636 3:63736373837 3.637 Year 16373.6373.637 183736373.6373.6363636363636363636 Year 3.6363636363636363636363636373837 2038323637 Year 1972.273 2576 2.879 3.182 1,485 3617 1.616 0.153 0.485 0.758 3.174 3.178 TARIE 4 Nomadential Real Property Mid-Month Convention Straight Line-31.5 Years for placed a service before May 13, 1993) Month Property Placed le Service Me Meath Meath 3 Month 4 Months Month 6 Month Month MathMeth 10 Mon t h 3.042% 2.77842.513422496 1.9849 1.720 145511001L0. 9 06610 .1970 .132 3.175 3.175 3.175 3.175 3.175 3.175 3175 3.175 3.1753 1753 .175 3.174 3.175 3.174 3.125 3.174 3.175 3.175 3.175 31753 1753.175 3.174 3.175 3.174 3.175 3.174 1175 3.174 3.175 3.1743 .1753 .1743 .175 3.175 3.174 3.175 3.174 3.175 1 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.1753 .1743 .175 3.174 3.175 3.175 1.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 1.174 Year 13 3.175 3.174 3.175 3.174 175 3.174 3.175 3.174 3.175 176 3.175 3.175 3.174 | 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3 .174 3.175 3.1743 .175 3.174 3.175 3.174 3.175 3.1741 3175 Year 161 3.175 3.174 3.175 3.174 3.175 3.174 3.175 13.1743 .175 3.1743.1753.174 173.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 1 3 .174 3.175 3.174 3.1753.1743.1753.174 Year 191 3.174 3.175 1 3.174 3.175 3.174 3 .175 3.174 3.175 3.174 3.175 3.174 175 Year 20 3.175 3.174 3.175 1 3 .174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 1 3.174 3.175 3.174 3 .175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 1 3 .174 3.175 1.174 3.175 3.174 3.175 3.1743 175 3.174 Year 233.1743 .175 3.174 3.1753 .174 3.1753 .174 3.115 3.174 3.1753 .174 3.173 3.175 3.174 3.175 1 3.174 3.175 3.174 3.175 1.174 3.175 1174 1175 1174 2 1 .174 3.175 3.174 3.175 3 174 175 3.174 1.175 1.174 1175 1176 3.175 Year 26 3.175 3.174 1 3 .175 3.174 1.175 3.174 3.175 1,174 175 1.174 1.175 .174 Year 273.174 3.175 3.174 3.175 3.174 3.175 3.174 3.179 3.174 1.175 174 Year 28 3:175 3.174 3.175 3.174 3.175 3.175 1.174 3.175 3.174 3.175 176 Year 293.174 3.1753 174 13 .175 3.174 3.175 3.174 3.1751 3.174 3.175 1:17 3.17 Year 303 .175 3.174 3.175 1.174 3.175 3.174 3.175 1.174 1.175 3,1741 3.175 Year 31 3.174 3.175 3.174 3 .175 3.1743 .175 3.174 3.175 3.175 1 3.174 3.17 Year 32 1.7201 .9842 .249 2.513 2.778 1042 3.175 1,174 1.17 3.174 3 .175 3.174 Year 33 0.132 0.1970 .661 0.926 1.190 145 1 3 .174 3174 3.174 or after May 13, 1993) TARLE Nonresidential Real Property MIl-Mouth Convention Straight Line-39 Years for Month Property Plered in Saree Mani Maa M onth 4 Month Month 6 Month Year 24616 22472031618194 1605 1.3911.1719 Year 2 392564 2.564 2.564 2564 254 25 Year 400.107 0.321 0515 0.749 111771191 Month 01 2.564 1 KOS Math Meath 10 0.7490515 254 2 564 1819 2013 Month M 12 0.1210107 256 2564 2247 Required information (The following information applies to the questions displayed below.) At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the year Annet Computers ortice desks Machinery office building Date Aequired 1/30 2/15 7/25 8/13 Cost Basis 29,500 $ 33,500 $ 76,500 $ 402,000 Assuming Anna does not elect 5179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) a. What is Anna's year 1 cost recovery for each asset? Year 1 Cost Recovery Computer equip PARUFEN come 12 of 13 !!! Next > Required information (The following information applies to the questions displayed below.) At the beginning of the year, Anna began a calendar year business and placed in service the following assets during the year. Asset Computers Office desks Machinery office building Date Acquired 1/30 2/15 7/25 8/13 Cost Basis $ 29,500 $ 33,500 $ 76,500 $ 402,000 Assuming Anna does not elect 5179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. What is Anna's year 2 cost recovery for each asset? Year 2 Cost Recovery Computer equipment Furniture Pickup truck Commercial building Total