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need help on part b Andrea, a cash method taxpayer, starts her company (an C) in 2023 . Since her company is new, she has
need help on part b
Andrea, a cash method taxpayer, starts her company (an C) in 2023 . Since her company is new, she has to purchase many items for the business. Below are the list of items Andrea purchased in 2023 A) What is Andrea's total depreciation expenses in 2023? Show details calculation and explanation. Computer (property class 5yr, MACRS: 20%, half-year convention for the year of purchase)50,000.20=$10k Furniture (property class 7yr, MACRS: 14.29%, half year convention for the year of purchase)10,000.1429=$1429 Equipment (property class 5yr, MACRS: 20% ) 120kx.20=$24K Car( property class 5yr, MACRS: 20%)35kx.20=$7000 Total deprecation =$42,429 B) What is Andrea's total depreciation expenses in the next year (2024)? Show details calculation and explanation Step by Step Solution
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