In 2021, Tina acquires and places into service in her business 5-year MACRS property costing 538,000 and 10-year MACRS property costing $212,000. Tina elects Sec. 179 expensing for all of the properties' cost. Tina's taxable income (before the Sec. 179 and 50% of self-employment deductions) is $209,000 (Click the icon to view the MACRS half-year rates.) Read the requirements Requirement a. What amount may Tina deduct under Sec. 179 for 2021 for the properties? What amount can she carry over to 2022? - X $ 209,000 Reference The amount Tina may deduct under Sec. 179 for 2021 is The amount Tina can carry over to 2022 is $ 41,000 Requirement b. What is Tina's total 2021 depreciation deduction? (Complete all input fields. Enter a "0" for any zero amounts.) Depreciation deduction $ 209,000 Sec. 179 expense Bonus depreciation MACRS depreciation Total 2021 depreciation 44.45 Requirements a. 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 Year 1 33.33 20.00 14.29 10.00 5.00 3.750 Year 2 32.00 24.49 18.00 9.50 7.219 Year 3 14.81 19.20 17.49 14.40 8.55 6.677 Year 4 7.41 11.52 12.49 11.52 7.70 6.177 Year 5 11.52 8.93 9.22 6.93 5.713 Year 6 5.76 8.92 7.37 6.23 5.285 Year 7 8.93 6.55 5.90 4.888 Year 8 4.46 6.55 5.90 4.522 Year 9 6.56 5.91 Year 10 6.55 5.90 4.461 Year 11 3.28 5.91 Year 12 5.90 4.461 Year 13 5.91 Year 14 5.90 4.461 Year 15 5.91 4.462 Year 16 2.95 4.461 Year 17 Year 18 4.461 Year 19 4.462 Year 20 4.461 Year 21 2.231 4.462 What amount may Tina deduct under Sec. 179 for 2021 for the properties? What amount can she carry over to 2022? What is Tina's total 2021 depreciation deduction? What are the limitations on Tina's ability to use the Sec. 179 carryover in 2022? How would your answers to Parts a, b, and c change if Tina's 2021 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $329,000 instead of $209,000? b. c. 4.462 d. 4.462 4.462 Print Done