Question
On 5/18/20, Sam placed into service the landscaping equipment (7-year) purchased for $24,000 and an industrial garage costing $62,400. On 11/30/20, the engine on the
On 5/18/20, Sam placed into service the landscaping equipment (7-year) purchased for $24,000 and an industrial garage costing $62,400. On 11/30/20, the engine on the landscaping equipment was blown due to overuse and Sam had to rebuild it for $13,000. On the same day, he purchased and placed in service a work truck costing $35,000 to haul his equipment. He did not take bonus depreciation or elect 179 on eligible property, and depreciated the property using 200DB. What is his 2020 depreciation expense?
I know the answer is 7,500 but keep ending up with 6,646
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