Question
Cleaning Professions, a general partnership, shows depreciation on the books of $13250 based on a straight line method. Tax deprecation based on MACRS, including 179
Cleaning Professions, a general partnership, shows depreciation on the books of $13250 based on a straight line method. Tax deprecation based on MACRS, including 179 deduction, is $21625. How does the partnership account for this differe4nce on the tax return?
- $21625 on schedule m-1 line 4a
- $13250 on schedule m-1 line 7a
- $8375 on schedule m-1 line 4a
- 8375 on schedule m-1 line 7a
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
