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in 2020, Paula's Pizza, a calendar year taxpayer, purchased and placed into service the following assets: 1) August 2020: Delivery Truck, cost $115,000, salvage value

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in 2020, Paula's Pizza, a calendar year taxpayer, purchased and placed into service the following assets: 1) August 2020: Delivery Truck, cost $115,000, salvage value $5,000 2) May 2020 Building (Pizzeria), cost $850,000 (land $65,000; building $785,000) 3) July 2020: Refrigeration & Ovens, cost $435,000, salvage value $15,000 3) September 2020: Computer Equipment, cost $65,000, salvage value $3,000 4) November 2020: Furniture & fixtures, cost $157,000, salvage value $3,000 5) December 2020: Passenger automobile, cost $65.000, salvage value $5,000 (80% business/20% personal). For 2020, Paula's Pizza had taxable income of $205,000 from operations. A) Paula's Pizza elects the Section 179 deduction for 2020 and does not take additional bonus depreciation. Calculate Paula's Pizza MACRS depreciation deduction for all assets in 2020. The relevant depreciation schedules are attached (show all work). B) Calculate Paula's Pizza MACRS depreciation deduction for all assets in 2021. The relevant depreciation schedules are attached (show all work). in 2020, Paula's Pizza, a calendar year taxpayer, purchased and placed into service the following assets: 1) August 2020: Delivery Truck, cost $115,000, salvage value $5,000 2) May 2020 Building (Pizzeria), cost $850,000 (land $65,000; building $785,000) 3) July 2020: Refrigeration & Ovens, cost $435,000, salvage value $15,000 3) September 2020: Computer Equipment, cost $65,000, salvage value $3,000 4) November 2020: Furniture & fixtures, cost $157,000, salvage value $3,000 5) December 2020: Passenger automobile, cost $65.000, salvage value $5,000 (80% business/20% personal). For 2020, Paula's Pizza had taxable income of $205,000 from operations. A) Paula's Pizza elects the Section 179 deduction for 2020 and does not take additional bonus depreciation. Calculate Paula's Pizza MACRS depreciation deduction for all assets in 2020. The relevant depreciation schedules are attached (show all work). B) Calculate Paula's Pizza MACRS depreciation deduction for all assets in 2021. The relevant depreciation schedules are attached (show all work)

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