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no more info than what I posted. Check my work In 2016, Jessica bought a new heavy truck for $37,000 to use 80% for her
no more info than what I posted.
Check my work In 2016, Jessica bought a new heavy truck for $37,000 to use 80% for her sole proprietorship. Total miles driven include 8.400 in 2016. 9,400 in 2017, and 8,900 in 2018. (Use Table 6A:1 and Table 6A-2) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount.) Q. If Jessica uses the standard mileage method, how much may she deduct on her 2018 tax return (miles were incurred ratably throughout the year)? b. What is the deduction for 2018 assuming the actual method was used from the beginning? Calculate depreciation only, the truck is not limited by the luxury auto rules. Also, assume $179 was not elected in the year of purchase. Recovery Year TABLE 6A-1 General Depreciation System 200% or 150% Declining Balance Switching to Straight-Line 3.Year 15-Year 20-Year 33.33 44.45 14.81 Half-Year Convention 5-Year 7-Year 20.00 14.29 32.00 24.49 19.20 17.49 12.49 8.93 5.76 8.92 8.93 4.46 10-Year 10.00 18.00 14.40 11.52 9.22 7.37 6.55 5.00 9.50 8.55 7.70 6.93 6.23 5.90 6.55 590 DREVOWN- 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4 462 591 5.90 5.91 5.90 591 5.90 591 2.95 3.28 4.461 2.231 andre 14. Meteorom TABLE 6A-2 General Depreciation System 200% or 150% Declining Balance Switching to Straight-Line Mid-Quarter Convention (Property Placed in Service in 1st Quarter) Recovery Year 3-Year 5-Year 7.Year 10-Year 15-Year 58.33 35.00 25.00 19.50 8.75 27.78 26.00 21.43 16.50 9.13 12.35 1531 13.20 821 1.54 10.93 1056 11.01 8.75 8.45 8.74 6.76 6.55 6.55 15.60 11.01 1.38 8.75 20-Year 6.563 7.000 6.482 5.996 5.546 5.130 4746 4.459 4.459 4459 4.459 4.460 4 459 4460 4.459 4.460 6.56 655 0.82 591 5.90 5.91 590 0.74 4.450 4460 4459 4.460 0.557 www My Step by Step Solution
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