Prepare a flowchart for MACRS depreciation/cost recovery of fixed assets. You may limit your flowchart to tangible personal property falling into the 5 and 7 year classes and real property used in rental and non-rental classes. For purposes of your flowchart, you should assume that Section 179 exists as well as any "bonus depreciation" provisions that would apply to 2019 acquisitions. Your flowchart should also reflect any limitations applicable to automobiles. (You need not cover any special van/truck provisions.) You may ignore any depreciation implications related to: Section 179/bonus depreciation on REAL property Alternate MACRS lives/methods Alternative Minimum Tax State Income taxes You should base your flowchart on 2019 tax provisions. FORMAT Your flowchart(s) should be a usable reference tool that one could follow to determine the proper treatment for any covered situation.