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Hi can i get help with this please? Carl purchased an apartment complex for $1.8 million on March 17 of year 1. of the purchase
Hi can i get help with this please?
Carl purchased an apartment complex for $1.8 million on March 17 of year 1. of the purchase price. $650,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $67,000. (Use MACRS Table 1, Table 2, Table 3. Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) Problem 10-52 Part a (Algo) a. What is Carl's allowable depreciation deduction for his real property for years 1 and 2? (Round your final answers to the nearest whole dollar amount.) Depreciation Deduction Year 1 Year 2 isplayed below. Carl purchased an apartment complex for $1.8 million on March 17 of year 1. of the purchase price, $650,000 was attributable to the land the complex sits on. He also installed new furniture into half of the units at a cost of $67,000. (Use MACRS Table 1, Table 2, Table 3. Table 4 and Table 5.) (Enter your answers in dollars and not in millions of dollars.) Problem 10-52 Part b (Algo) b. What is Carl's allowable depreciation deduction for year 3 if the real property is sold on January 2 of year 3? (Do not round intermediate computations. Round your final answer to the nearest whole dollar amount.) $ 67,000 Depreciation for year 3 in the quesuuris displayed below.] Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Date Placed in Service October 25 February 3 Original Basis Machinery $ 118,000 Computer equipment Used delivery truck Furniture August 17 46,000 59,000 210,000 April 22 *The delivery truck is not a luxury automobile. Problem 10-53 Part a (Algo) a. What is the allowable depreciation on Evergreen's property in the current year, assuming Evergreen does not elect $179 expense and elects out of bonus depreciation? (Round your intermediate calculations to the nearest whole dollar amount.) $ 179 Depreciation Evergreen Corporation (calendar year-end) acquired the following assets during the current year: (Use MACRS Table 1 and Table 2.) Asset Date Placed in Service October 25 February 3 Original Basis Machinery $ 118,000 Computer equipment Used delivery truck 46,000 August 17 59,000 Furniture April 22 210,000 *The delivery truck is not a luxury automobile. Problem 10-53 Part b (Algo) b. What is the allowable depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation? I Depreciation Step by Step Solution
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