6-9 plss

The following information applies to questions 1-9: Audrey owns and operates her own pizza delivery business. Audrey bought a small car on July 1 , Year 1 for $25,000. She uses this car solely for business purposes. According to IRS tables, the depreciation factors applicable to this car are "Year 1:.20" and "Year 2:.32." (Section 179 is not elected.) The fair market value of this car on January 1 , Year 2 was $17,000 In Year 1, and again in Year 2, Audrey, a single taxpayer, has AGI of $40,000, no property transactions and \$9,000 of itemized deductions (attributable solely to interest paid on her home mortgage and to California tax payments), exclusive of the following. Each of the following is an independent case. By what amount. if any, does depreciation on this car in Year 1 5. Assuming that this car did qualify for the Section 179 election, whin is the maximum deduction under Section 6. The depreciation factors stated in this question appear to reflect thet this car is: a. Subject to the mid-quarter convention b) Classified as "5-year depreciable property" c. Classified as "7-year depreciable property" d. Not being depreciated in accordance with accelerated depreciation principles, as applied under the tax law Assume that, during Year 1, Audrey used this car for personal purposes one-half of the time and business purposes in operating her pizza business the other one-half of the time. If Audrey sells this car on January 1 , Year 2 , for $15,000, how much loss may she recognize on the sale for tax purposes? Assume that, instead of owning the pizza delivery business, Audrey has always used this car exclusively in her job as a pizza delivery person and is not reimbursed by her employer for any expenses. By what amount, if any, does depreciation on this car in Year 1 reduce Audrey's taxable income in Year 1? 9. Assume instead that Audrey, during Year 1 , worked as an administrative assistant at a software company and solely drove this car for personal use. (That is, she did not own, operate, or work for a pizza business during Year 1.) On January 1, Year 2, Audrey started her own pizza business and began using this car solely for making pizza deliveries. By what amount, if any, does depreciation on this car in Year 2 reduce Audrey's taxable income in Year 2? The following information applies to questions 1-9: Audrey owns and operates her own pizza delivery business. Audrey bought a small car on July 1 , Year 1 for $25,000. She uses this car solely for business purposes. According to IRS tables, the depreciation factors applicable to this car are "Year 1:.20" and "Year 2:.32." (Section 179 is not elected.) The fair market value of this car on January 1 , Year 2 was $17,000 In Year 1, and again in Year 2, Audrey, a single taxpayer, has AGI of $40,000, no property transactions and \$9,000 of itemized deductions (attributable solely to interest paid on her home mortgage and to California tax payments), exclusive of the following. Each of the following is an independent case. By what amount. if any, does depreciation on this car in Year 1 5. Assuming that this car did qualify for the Section 179 election, whin is the maximum deduction under Section 6. The depreciation factors stated in this question appear to reflect thet this car is: a. Subject to the mid-quarter convention b) Classified as "5-year depreciable property" c. Classified as "7-year depreciable property" d. Not being depreciated in accordance with accelerated depreciation principles, as applied under the tax law Assume that, during Year 1, Audrey used this car for personal purposes one-half of the time and business purposes in operating her pizza business the other one-half of the time. If Audrey sells this car on January 1 , Year 2 , for $15,000, how much loss may she recognize on the sale for tax purposes? Assume that, instead of owning the pizza delivery business, Audrey has always used this car exclusively in her job as a pizza delivery person and is not reimbursed by her employer for any expenses. By what amount, if any, does depreciation on this car in Year 1 reduce Audrey's taxable income in Year 1? 9. Assume instead that Audrey, during Year 1 , worked as an administrative assistant at a software company and solely drove this car for personal use. (That is, she did not own, operate, or work for a pizza business during Year 1.) On January 1, Year 2, Audrey started her own pizza business and began using this car solely for making pizza deliveries. By what amount, if any, does depreciation on this car in Year 2 reduce Audrey's taxable income in Year 2