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On June 5, 2018, Roxy Company purchases a passenger auto for $60,000. Roxy does not take a Sec. 179 deduction and elects out of 100%

  1. On June 5, 2018, Roxy Company purchases a passenger auto for $60,000. Roxy does not take a Sec. 179 deduction and elects out of 100% bonus on all 5-year property. Compute tax depreciation for 2018-2025.
  2. A company car is used 60% for business and 40% for personal use. Annual tax depreciation is $16,000. Compute allowable depreciation if:
  1. The car is owned by a corporation and driven by an employee.
  2. The car is owned by Joans sole proprietorship and driven by employee Jim.
  3. The car is owned by a sole proprietorship and driven by the owner.

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