Question
Business Taxpayer placed the following assets into service during the taxable year. Determine the total MACRS depreciation deduction to which the taxpayer is entitled for
Business Taxpayer placed the following assets into service during the taxable year. Determine the total MACRS depreciation deduction to which the taxpayer is entitled for the year assuming it does not election section 179 immediate expensing and elects out of bonus depreciation (meaning no 179 or bonus).
| DESCRIPTION | DATE IN SERVICE | LIFE | COST |
| Land | 11/15/2020 | N/A | 62,500 |
| Building, manufacturing facility | 11/15/2020 | 39 | 250,000 |
| Machinery | 07/01/2020 | 7 | 125,000 |
19,001
14,191
18,666
25,803
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Financial Accounting A Course For All Majors
Authors: David W. OBryan
1st Edition
1617350958, 978-1617350955
