Each asset must be depreciated using the MACRS depreciation in accordance with the class life of the asset. Columns for the AMT depreciation and accompanying AMT adjustment must be included. Excel image is an example of one of the assets completed.

Despite the professor's directions in the image with the assets, please just complete assuming half-year depreciation for all assets.

Please as soon as possible. I was doing the project myself but now I am second guessing if I am depreciating correctly. I cannot figure out Luxury automobile, petroleum refining, residential building and nonresidential building especially.

I HAVE ENLARGED THE PICTURES AND TRIED TO BE MORE DESCRIPTIVE WITH WHAT ITS REQUIRED. I AM NOT SURE WHAT ELSE IS NEEDED.

ACC 5170 DEPRECIATION PROJECT PROBLEM 4 A. For the properties listed below compute the depreciation taken during the useful life of the property. Assume that all property is post-1986 property. Assign 15 percent of the cost to land for residential and commercial properties. property. B. Include columns for the applicable AMT depreciation and the accompanying AMT adjustment. TIP: The AMT adjustment for personal property is the difference between the depreciation taken under MACRS and the amount determined by using 150% declining balance (DB) method under ADS. The AMT adjustment for real property is the difference between the depreciation taken under MACRS and the amount determined by using strait line (SL) method under ADS. PROPERTY COST PLACED IN SERVICE Tractor unit Race horse over 2 years old Computer Luxury Automobile General Purpose Truck Office Desk Office Safe Light Boat Petroleum Refining Installation Residential Rental Building Nonresidential Rental Building 35,000 6,000 3,000 76,000 48,000 5,200 11,800 15,000 126,000 8,,500,000 4,000,000 15 Feb 12 May 25 Nov 15 May 2008 13 Oct 5 Jan 7 Sept 27 July 15 June 26 April 20 Nov Note: These are the suggested columns. Make sure that all the columns fit on one page Asset Description Date Placed in Service Cost Basis Recovery Rate MACRS RECOVERY AMOUNT MACRS Accumulated Depreciation Adjusted Basis AMT Rate AMT Recovery Amount AMT Accumulated Depreciation AMT Adjustment AMT Adjusted Basis x Depreciation Proj Q Search Sheet Share View = x2 AutoSum' , AutoSave OFF D Home Insert P , X Cut Copy Format G16 x B C O 5 = Page Layout Formulas Data Review Calibri (Body) - 12 - A- A = = BIVA fx D E F G H Ep Wrap Text Merge & Center General $ % Paste ) 00 Insert Delete Format Conditional Format Formatting as Table Cell Styles Clear Sort & Filter I J N O P Q R S T U V W Date Placed in Service K L M AMT AMT Recovery Accumulated AMT Amount Depreciation Adjustment Cost Basis Class Life MACRS Recovery Amount Recovery Rate MACRS Accumulated Depreciation Adjusted Basis AMT Rate AMT Adjusted Basis 1 Year 15-Feb 35000 3 2 3 4 33.33% 44.45% 14.81% 7.41% 11665.5 15557.5 5183.5 2593.5 11665.5 27223 32406.5 35000 23334.5 7777 2593.5 0 25.00% 37.50% 25.00% 12.50% 8750 13125 8750 4375 8750 21875 30625 35000 2915.5 -6317.5 -25441.5 -32406.5 26250 13125 4375 0 37 Tractor Unit Race Horse(2+ Yrs Old) Computer Luxury Automobile General Purpose Truck Office Desk Office Safe Light Boat Petroleum Refining Installation @ J -G O Reside + + 100% Ready ACC 5170 DEPRECIATION PROJECT PROBLEM 4 A. For the properties listed below compute the depreciation taken during the useful life of the property. Assume that all property is post-1986 property. Assign 15 percent of the cost to land for residential and commercial properties. property. B. Include columns for the applicable AMT depreciation and the accompanying AMT adjustment. TIP: The AMT adjustment for personal property is the difference between the depreciation taken under MACRS and the amount determined by using 150% declining balance (DB) method under ADS. The AMT adjustment for real property is the difference between the depreciation taken under MACRS and the amount determined by using strait line (SL) method under ADS. PROPERTY COST PLACED IN SERVICE Tractor unit Race horse over 2 years old Computer Luxury Automobile General Purpose Truck Office Desk Office Safe Light Boat Petroleum Refining Installation Residential Rental Building Nonresidential Rental Building 35,000 6,000 3,000 76,000 48,000 5,200 11,800 15,000 126,000 8,,500,000 4,000,000 15 Feb 12 May 25 Nov 15 May 2008 13 Oct 5 Jan 7 Sept 27 July 15 June 26 April 20 Nov Note: These are the suggested columns. Make sure that all the columns fit on one page Asset Description Date Placed in Service Cost Basis Recovery Rate MACRS RECOVERY AMOUNT MACRS Accumulated Depreciation Adjusted Basis AMT Rate AMT Recovery Amount AMT Accumulated Depreciation AMT Adjustment AMT Adjusted Basis x Depreciation Proj Q Search Sheet Share View = x2 AutoSum' , AutoSave OFF D Home Insert P , X Cut Copy Format G16 x B C O 5 = Page Layout Formulas Data Review Calibri (Body) - 12 - A- A = = BIVA fx D E F G H Ep Wrap Text Merge & Center General $ % Paste ) 00 Insert Delete Format Conditional Format Formatting as Table Cell Styles Clear Sort & Filter I J N O P Q R S T U V W Date Placed in Service K L M AMT AMT Recovery Accumulated AMT Amount Depreciation Adjustment Cost Basis Class Life MACRS Recovery Amount Recovery Rate MACRS Accumulated Depreciation Adjusted Basis AMT Rate AMT Adjusted Basis 1 Year 15-Feb 35000 3 2 3 4 33.33% 44.45% 14.81% 7.41% 11665.5 15557.5 5183.5 2593.5 11665.5 27223 32406.5 35000 23334.5 7777 2593.5 0 25.00% 37.50% 25.00% 12.50% 8750 13125 8750 4375 8750 21875 30625 35000 2915.5 -6317.5 -25441.5 -32406.5 26250 13125 4375 0 37 Tractor Unit Race Horse(2+ Yrs Old) Computer Luxury Automobile General Purpose Truck Office Desk Office Safe Light Boat Petroleum Refining Installation @ J -G O Reside + + 100% Ready