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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 elect section 179 immediate expensing and elects out of bonus depreciation (meaning no 179 or bonus).
DESCRIPTION | DATE IN SERVICE | LIFE | COST |
Machinery | 10/30/2020 | 7 | 12,000 |
Computer | 02/15/2020 | 5 | 9,000 |
Furniture | 08/05/2020 | 7 | 6,900 |
4,501
3,214
1,124
4,317
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