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9. Calendar year Corp. A purchases and places in service only two items of tangible personal property during 2020 -- a machine (7 yr.) costing
9. Calendar year Corp. A purchases and places in service only two items of tangible personal property during 2020 -- a machine (7 yr.) costing $10,000, purchased and placed in service on May 11, and a machine (7 yr.) costing $40,000, purchased and placed in service on November 28. Assume that Corp. A opts not to take any Code Section 179 deduction. What total 2020 depreciation deduction amount (for both machines) will Corp. A claim for the year? A. $ 7,150 B. 7,140 C. 3,210 D. 3,780 E. None of the above Do not assume that a taxpayer makes an IRC 179 election or uses bonus depreciation unless a problem so states. For each question you answer, insert in the appropriate space on the separate answer sheet the letter which indicates the correct response. Please note than all final answers have been rounded to the nearest $10. 9. Calendar year Corp. A purchases and places in service only two items of tangible personal property during 2020 -- a machine (7 yr.) costing $10,000, purchased and placed in service on May 11, and a machine (7 yr.) costing $40,000, purchased and placed in service on November 28. Assume that Corp. A opts not to take any Code Section 179 deduction. What total 2020 depreciation deduction amount (for both machines) will Corp. A claim for the year? A. $ 7,150 B. 7,140 C. 3,210 D. 3,780 E. None of the above Do not assume that a taxpayer makes an IRC 179 election or uses bonus depreciation unless a problem so states. For each question you answer, insert in the appropriate space on the separate answer sheet the letter which indicates the correct response. Please note than all final answers have been rounded to the nearest $10
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