In 2019, Toni acquires and places into service in her business 5-year MACRS property costing $35,000 and 10-year MACRS property costing $155,000. Toni elects Sec. 179 expensing for all of the properties' cost. Toni's taxable income (before the Sec. 179 and 50% of self-employment deductions) is $144,000. (Click the icon to view the MACRS half-year rates.) Read the requirements. Requirement a. What amount may Toni deduct under Sec. 179 for 2019 for the properties? What amount can she carry over to 2020? The amount Toni may deduct under Sec. 179 for 2019 is The amount Toni can carry over to 2020 is Requirement b. What is Toni's total 2019 depreciation deduction? (Complete all input fields. Enter a "0" for any zero amounts.) Depreciation deduction Sec. 179 expense Bonus depreciation MACRS depreciation Total 2019 depreciation Requirement c. What are the limitations on Toni's ability to use the Sec. 179 carryover in 2020? (Abbreviation used: SE = self-employment.) To use the carryover in 2020, Toni must and also not have the dollar limitation next year be reduced below Requirement d. How would your answers to Parts a, b, and c change if Toni's 2019 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $274,000 instead of $144,000? (Complete all input fields. Enter a "0" for any zero amounts.) Begin by identifying how your answers to Part a would change in this scenario. In part a, the amount Toni may deduct under Sec. 179 for 2019 is The amount Toni can carry over to 2020 is How would your answers to Part b, change if Toni's 2019 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $274,000 instead of $144,000? (Enter a "0" for a zero amount.) In part b, her total depreciation deduction would be How would your answers to Part c, change if Toni's 2019 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $274,000 instead of $144,000? (Enter a "0" for a zero amount.) In part c, the amount of Sec. 179 expense Toni can carry over to 2020 is Reference General Depreciation System-MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 20.00 14.29 10.00 Year 1 Year 2 5.00 9.50 3.750 7.219 32.00 18.00 33.33 44.45 14.81 7.41 14.40 24.49 17.49 12.49 8.93 19.20 11.52 11.52 5.76 8.55 7.70 11.52 9.22 6.93 8.92 7.37 6.23 6.677 6.177 5.713 5.285 4.888 4.522 4.462 8.93 6.55 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 5.90 4.46 6.55 5.90 5.91 6.56 6.55 5.90 4.461 4.462 3.28 5.91 5.90 4.461 Print Done Requirements a. b. c. What amount may Toni deduct under Sec. 179 for 2019 for the properties? What amount can she carry over to 2020? What is Toni's total 2019 depreciation deduction? What are the limitations on Toni's ability to use the Sec. 179 carryover in 2020? How would your answers to Parts a, b, and c change if Toni's 2019 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $274,000 instead of $144,000? d. Print Done