Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

needs to be check if I get the right answers if using the MACRS method to calculate depreciation for the 2019 tax return. for IRS

needs to be check if I get the right answers if using the MACRS method to calculate depreciation for the 2019 tax return. for IRS form 4562

Building purchased on 5/1/2014 for $655,000. The building was placed in service on 6/1/2014. 655000*0.03636=23815.8. Screen printing machinery (7yr) purchased and placed in service on 6/1/2014 for $280,000. 280000*0.0892=24976 Office furniture and fixtures (7yr) purchased and placed in service on 1/1/2015 for $55,000

55000*0.0893=4911.5 Additional screen printing machinery (7yr) purchased and placed in service on 2/1/2019 for $235,000 235000*0.1429=33581.5 Computer equipment (5yr) purchased and placed in service on 3/1/2019 for $35,000 35000*0.20=7000 Warehouse (39yr) purchased and placed in service on 9/1/2019 for $560,000 560000*0.02564=14358.4

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Dyslexia A Practitioners Handbook

Authors: Gavin Reid

5th Edition

1118980107, 9781118980101

More Books

Students also viewed these Accounting questions

Question

What is the effect of word war second?

Answered: 1 week ago

Question

a. Did you express your anger verbally? Physically?

Answered: 1 week ago