Cost Recovery Tax Form problem: Bad News is a technology services company. Over the past two years, it has purchased the following assets: Year 2021 2021 2022 2022 2022 Asset Office Equipment Computer System House used as Office Furniture Computing Equipment Placed in Service August 14 June 1 April 1 May 30 July25 Basis $5,000 $10,000 $225,000 $7,500 $25,000 Bad News does not use immediate expensing or Section 179. Determine the cost recovery for 2022, complete form 4562 and include the cost recovery on Sch C. Extra Information: Individual Taxpayer: Brecken Williams ssn: 587-46-5211 Business address: 415 Oak St, Lincoln NE 68588 Business Code: 541510 Taxpayer uses the cash method of accounting and does materially participate. Taxpayer did not have to file any 1099s.

Cost Recovery Tax Form problem: BadNews is a technology services company. Over the past two years, it has purchased the followine assets: BadNews does not use immediate expensing or Section 179. Determine the cost recovery for 2022, complete form 4562 and include the cost recovery on Sch C. Extra Information: Individual Taxpayer : Brecken Williams ssn: 587-46-5211 Business address: 415 Oak St, Lincoln NE 68588 Business Code: 541510 Taxpayer uses the cash method of accounting and does materially participate. Taxpayer did not have to file any 1099s