Porter Corporation uses the calendar year as its tax year It acquires and places into service two depreciable assets during 2019 Asset 1 7 year property $990,000 cost placed into service on January 20 Asset 2 5 year property $450,000 cost placed into service on August 1 (Click the icon to view the MACRS half year convention rates ) Read the requirements a What are Porter's depreciation deductions for 2019 and 2020 if this is the only property it places into service in those years and Porter does not elect Sec 179 expensing and elects out of bonus depreciation for the machine Calculate Porter's depreciation deductions for 2019 (Use MACRS rates to two decimal places, X XX Round the MACRS depreciation to the nearest dollar ) 2019 Depreciation Asset 1 Asset 2 Total depreciation X i Reference General Depreciation System MACRS Personal Property Placed in Service After 12 31 86 Applicable Convention Half Year Applicable Depreciation Method 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3 Year 5 Year 7 Year 10 Year 15 Year 20 Year Year 1 33 33 20 00 14 29 10 00 5 00 3 750 Year 2 44 45 32 00 24 49 18 00 9 50 7 219 Year 3 14 81 19 20 17 49 14 40 8 55 6 677 Year 4 7 41 11 52 12 49 11 52 7 70 6 177 Year 5 11 52 8 93 9 22 6 93 5 713 Year 6 5 76 8 92 7 37 6 23 5 285 Year 7 8 93 6 55 5 90 4 888 Year 8 4 46 6 55 5 90 4 522 Year 9 6 56 5 91 4 462 Year 10 6 55 5 90 4 461 Year 11 3 28 5 91 4 462 Year 12 5 90 4 461 Year 13 5 91 4 462 Year 14 5 90 4 461 Year 15 5 91 4 462 Year 16 2 95 4 461 Year 17 4 462 Year 18 4 461 Print Done Clear All i Requirements X What are Porter's depreciation deductions for 2019 and 2020 in each of the following situations if this is the only property it places into service in those years a Porter does not elect Sec 179 expensing and elects out of bonus depreciation for the machine b Porter elects Sec 179 expensing for the assets and does not elect out of bonus depreciation c Porter does not elect Sec 179 expensing and does not elect out of bonus depreciation Print Done

Question

Porter Corporation uses the calendar year as its tax year  It acquires and places into service two depreciable assets during 2019  Asset  1  7 year property  $990,000 cost  placed into service on January 20  Asset  2  5 year property  $450,000 cost  placed into service on August 1  (Click the icon to view the MACRS half year convention rates ) Read the requirements  a  What are Porter's depreciation deductions for 2019 and 2020 if this is the only property it places into service in those years and Porter does not elect Sec  179 expensing and elects out of bonus depreciation for the machine  Calculate Porter's depreciation deductions for 2019  (Use MACRS rates to two decimal places, X XX   Round the MACRS depreciation to the nearest dollar ) 2019 Depreciation Asset  1 Asset  2 Total depreciation X i Reference General Depreciation System  MACRS Personal Property Placed in Service After 12 31 86 Applicable Convention  Half Year Applicable Depreciation Method  200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates Recovery Year 3 Year 5 Year 7 Year 10 Year 15 Year 20 Year Year 1 33 33 20 00 14 29 10 00 5 00 3 750 Year 2 44 45 32 00 24 49 18 00 9 50 7 219 Year 3 14 81 19 20 17 49 14 40 8 55 6 677 Year 4 7 41 11 52 12 49 11 52 7 70 6 177 Year 5 11 52 8 93 9 22 6 93 5 713 Year 6 5 76 8 92 7 37 6 23 5 285 Year 7 8 93 6 55 5 90 4 888 Year 8 4 46 6 55 5 90 4 522 Year 9 6 56 5 91 4 462 Year 10 6 55 5 90 4 461 Year 11 3 28 5 91 4 462 Year 12 5 90 4 461 Year 13 5 91 4 462 Year 14 5 90 4 461 Year 15 5 91 4 462 Year 16 2 95 4 461 Year 17 4 462 Year 18 4 461 Print Done Clear All i Requirements X What are Porter's depreciation deductions for 2019 and 2020 in each of the following situations if this is the only property it places into service in those years  a  Porter does not elect Sec  179 expensing and elects out of bonus depreciation for the machine  b  Porter elects Sec  179 expensing for the assets and does not elect out of bonus depreciation  c  Porter does not elect Sec  179 expensing and does not elect out of bonus depreciation  Print Done

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Porter Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2019: Asset #1: 7-year property;

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