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Big Corporation acquired and placed in service the following 100% business-use assets. Big did not claim Sec. 179 or bonus depreciation expensing on any of
Big Corporation acquired and placed in service the following 100% business-use assets. Big did not claim Sec. 179 or bonus depreciation expensing on any of these properties (Click the icon to view the MACRS half-year convention rates.) (Click the icon to view the MACRS mid-quarter convention rates for property placed in service in the first quarter.) (Click the icon to view the MACRS mid-quarter convention rates for property placed in service in the fourth quarter.) (Click the icon to view the business-use assets.) Read the requirements (Click the icon to view the MACRS straight-line rates for 39-year property) Requirement a. What is Big's total depreciation deduction in 2017? (Use MACRS rates to three decimal places, X.XXX%. Round all amounts to the nearest dollar Enter a "O" if no depreciation is allowed.) Asset 2017 Depreciation Requirements Truck Machinery Land Building Total depreciation a. What is Big's total depreciation deduction in 2017? b. Big Corporation sells the machinery on February 2, 2019 and sells the building on September 18, 2019. What are the adjusted bases of these two assets on the dates of sale (compute accumulated depreciation to date of sale)? Print Done
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