Question
NEED TO SEE THIS PROBLEM ON 2019 TAX RETURN FORMS ! Specifically form 4562 . MACRS 40% Test and Partial Year Depreciation: Large Corporation acquired
NEED TO SEE THIS PROBLEM ON 2019 TAX RETURN FORMS! Specifically form 4562.
MACRS 40% Test and Partial Year Depreciation: Large Corporation acquired and placed in service the following 100% business-use assets. Large did not claim Sec. 179 or bonus depreciation expensing on any of these properties:
Truck (light-duty, modified non-personal use) costing $36,000: Placed in service on March 3, 2018 with a 5-year MACRS recovery period.
Machinery costing $85,000: Placed in service on November 15, 2018 with a 7-year MACRS recovery period.
Land costing $90,000: Placed in service on October 12, 2018.
Building costing $280,000: Placed in service on December 4, 2018 with a 39-year MACRS recovery period.
What is Larges total depreciation deduction in 2018?
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Essentials Of Cost Accounting For Health Care Organizations
Authors: Steven Finkler, Judith Baker, David Ward
3rd Edition
0810235447, 9780763738136
