In 2022, Tina acquires and places into service in her business 7-year MACRS property costing $35,000 and 5-year MACRS property costing $215,000. 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 $203,000. View the MACRS half-year convention rates. Read the requirements. Requirement a. What amount may Tina deduct under Sec. 179 for 2022 for the properties? What amount can she carry over to 2023? The amount Tina may deduct under Sec. 179 for 2022 is $ 203,000 The amount Tina can carry over to 2023 is $ 47,000 Requirement b. What is Tina's total 2022 depreciation deduction? (Complete all input fields. Enter a "0" for any zero amounts.) Sec. 179 expense Bonus depreciation MACRS depreciation Total 2022 depreciation Depreciation deduction MACRS Half-year Convention Rates 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 44.45 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 4.462 Year 10 6.55 5.90 4.461 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 3.28 5.91 4.462 5.90 4.461 5.91 4.462 5.90 4.461 5.91 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231 Requirements a. b. C. d. What amount may Tina deduct under Sec. 179 for 2022 for the properties? What amount can she carry over to 2023? What is Tina's total 2022 depreciation deduction? What are the limitations on Tina's ability to use the Sec. 179 carryover in 2023? How would your answers to Parts a, b, and c change if Tina's 2022 business taxable income (before the Sec. 179 expense and the 50% of self-employment tax deductions) was $363,000 instead of $203,000? Print Done