I am trying to complete form 4562, 8829, and a Schedule C. I can't seem to figure out Line 17 on the 4562- "MACRS deductions for assets placed in service in tax years beginning before 2020" I am looking for any assistance to figure out how to get the answer. I know I need to use the tables but I can't seem to figure out how to determine the deductions.

Thank You,

-Dawn Williams

Comprehensive Problem 8-1

Trish Himple owns a retail family clothing store. Her store is located at 4321 Heather Drive, Henderson, NV 89002. Her employer identification number is 95-1234321 and her Social Security number is 123-45-6789. Trish keeps her books on an accrual basis.

Trish's bookkeeper has provided the book-basis fixed asset roll forward to be used in computing the depreciation. For tax purposes, Trish elected out of bonus depreciation in all years except 2020. She did not elect immediate expensing in any year. The tax lives of the assets are the same as the book lives shown in the fixed asset schedule. The truck is not considered a passenger automobile for purposes of the luxury automobile limitations.

Himple Retail Fixed Asset Rollforward 12/31/2020 (book basis) DEPR COST 2018 2019 2020 ACCUM NET BOOK IN ASSET SERVICE METHOD LIFE BASIS DEPR DEPR DEPR DEPR VALUE CASH REGISTER 12/15/2018 SL 5 9,900.00 165.00 1,980.00 1,980.00 4,125.00 5,775.00 2018 TOTAL ADDITIONS 9,900.00 165.00 1,980.00 1,980.00 4,125.00 5,775.00 RETAIL FIXTURES 9/12/2019 SL 4,750.00 226.19 678.57 904.76 3,845.24 FURNITURE 9/12/2019 SL 7 3,900.00 185.71 557.14 742.85 3,157.15 2019 TOTAL ADDITIONS 8,650.00 411.90 1,235.71 1,647.61 7,002.39 TOTAL 18,550.00 165.00 2,391.90 3,215.71 5,772.61 12,777.39 DELIVERY TRUCK 6/1/2020 SL 5 37,500.00 4,375.00 4,375.00 33,125.00 DESK AND CABINETRY 6/1/2020 SL 7 11,900.00 991.67 991.67 10,908.33 COMPUTER 6/1/2020 SL 5 2,800.00 326.67 326.67 2,473.33 2020 TOTAL ADDITIONS 52,200.00 5,693.34 5,693.34 46,506.66 TOTAL 70,750.00 165.00 2,391.90 8,909.05 11,465.95 59,284.05