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Use Intuit Proconnect Calculate the following amounts on the Form 4562 and use Bonus Depreciation when available: a. Depreciation on a residential rental building costing
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Calculate the following amounts on the Form 4562 and use Bonus Depreciation when available:
a. Depreciation on a residential rental building costing $150,000, purchased on November 30, 2019. $50.000 allocated to land
b. Depreciation on an auto, weighing 3,500 pounds, used 70 percent in business, costing $30,000, purchased May 6, 2019.
c. Depreciation on a computer used exclusively for business, costing $7,000, purchased May 15, 2019.
d. Depreciation on business furniture costing $1,000, purchased July 20, 2019.
e. Sold Land 10/20/2019 for $331,000 with $5,000 of selling expenses. Acquired 12/3/01 for $129,000
f. Sold Business computer 2/25/2019 $3,000. Acquired 1/8/2014 for $5,750 with deprecation of $3,500
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