Question
In 2021, Nesco, a calendar year corporation, placed the following assets into service: Asset Placed in Service Date Original Basis Computer Equipment 3/23/2021 5,000 Office
In 2021, Nesco, a calendar year corporation, placed the following assets into service: Asset Placed in Service Date Original Basis Computer Equipment 3/23/2021 5,000 Office Furniture 5/12/2021 17,000 Pickup Truck 11/15/2021 10,000 In addition, Nesco had the following assets already in service in the business: Asset Placed in Service Date Original Basis Machinery 2/15/2019 150,000 Half Year Furniture 11/24/2020 25,000 Mid Quarter Nescos taxable income before considering depreciation is $850,000. If Nesco does not take Section 179 expense or bonus depreciation for the year, what is the total depreciation deduction for 2021? Suggested Template for Answer: Asset:
Placed in Service Date Original Basis:
Depreciation Rate:
Depreciation:
Convention Used:
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