Dean and Ellen Price are married and have a manufacturing business. They bought a piece of business equipment (7-year personal property) on 4/1/2018 for $50,000. Use half-year convention to calculate the MACRS depreciation deduction on the equipment for 2018 and 2019 They also has a pick-up truck used for business (5-year recovery period) acquired on 8/23/2018 for $25,000. On 11/15/2019, he sold the pick-up truck for $24,000. Use the half-year convention to calculate the MACRS depreciation on the truck for 2018 and 2019.

2019 Depreciation

	Date Acquired	Date Disposed	MACRS Rate	Initial Cost	2019 MACRS Depreciation Deduction
Business Equipment	4/1/2018	N/A	24.49%	5000	12245
Pick-up Truck (Sold during the year)	8/23/2018	11/15/2019	32%	?	?

2019 Tax Basis

	Date Acquired (1)	Date Disposed (2)	Initial Cost (3)	Accumulated Depreciation (4)	Tax Basis at year end (5) = (3)-(4).
Business Equipment	4/1/2018	N/A	5000	?	?
Pick-up Truck	8/23/2018	11/15/2019	?	?	?

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Appendix MACRS Tables 20-year WN TABLE 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period Year 3-year 5-year 7-year 10-year 1 33.33 20.00 14.29 10.00 2 44.45 32.00 24.49 18.00 3 14.81 19.20 17.49 14.40 4 7.41 11.52 12.49 11.52 5 11.52 8.93 9.22 6 5.76 8.92 7.37 7 8.93 6.55 8 4.46 6.55 9 6.56 10 6.55 11 3.28 12 15-year 5.00 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 10 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 5.90 5.91 5.90 5.91 5.90 5.91 2.95 13 14 15 16 17 18 19 20 21