Chapter 10 Assignment 1 For a d, determine the total depreciation amount for 2019 assuming the taxpayers opt out of Sec 179 and bonus In addition, assume all taxpayers use a calendar year tax period and that the property mentioned was the only property purchased in the year of acquisition Details at purchase Total depreciation a A local accounting firm purchased 5 new computers for its new staff members for a total cost of $10,000 on January 1, 2017 b A construction company purchased new furniture for its main office on August 25, 2016, which cost $4,000 in total c A landscaping firm purchased a new $30,000 Chevy S10 (a light truck) for the business on October 5, 2014 d Maggie and Mike purchased a townhouse for $350,000 on July 31, 2019, which they immediately rented out to a tenant Part a A manufacturing firm purchased machinery equipment on March 15, 2014 for $250,000, which was the only property it purchased that year The firm sells the equipment on January 15, 2019 Assume the firm always opts out of Sec 179 and bonus if available and uses a calendar year tax period How much total depreciation does the firm have for the machine in 2019 Part b Assume the same example as in Part a except that the equipment was purchased on November 15, 2014 Does your answer for part a change If so, what is the new amount of total depreciation If not, why doesnt it change

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Chapter 10 Assignment 1: For a-d, determine the total depreciation amount for 2019 assuming the taxpayers opt out of Sec. 179 and bonus. In addition,

Chapter 10 Assignment 1:

For a-d, determine the total depreciation amount for 2019 assuming the taxpayers opt out of Sec. 179 and bonus. In addition, assume all taxpayers use a calendar year tax period and that the property mentioned was the only property purchased in the year of acquisition.

	Details at purchase	Total depreciation
a	A local accounting firm purchased 5 new computers for its new staff members for a total cost of $10,000 on January 1, 2017.
b	A construction company purchased new furniture for its main office on August 25, 2016, which cost $4,000 in total.
c	A landscaping firm purchased a new $30,000 Chevy S10 (a light truck) for the business on October 5, 2014.
d	Maggie and Mike purchased a townhouse for $350,000 on July 31, 2019, which they immediately rented out to a tenant.

Part a: A manufacturing firm purchased machinery equipment on March 15, 2014 for $250,000, which was the only property it purchased that year. The firm sells the equipment on January 15, 2019. Assume the firm always opts out of Sec. 179 and bonus if available and uses a calendar year tax period. How much total depreciation does the firm have for the machine in 2019?

Part b: Assume the same example as in Part a except that the equipment was purchased on November 15, 2014. Does your answer for part a change? If so, what is the new amount of total depreciation? If not, why doesnt it change?