Required information (The following information applies to the questions displayed below) Woolard Supplies (a sole proprietorship) has taxable income in 2019 of $240,000 before any depreciation deductions ($179, bonus, or MACRS) and placed some office furniture into service during the year. The furniture had been used previously by Liz Woolard (the owner of the business) before it was placed in service by the business. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Asset Office furniture (used) Placed In Service March 20 Basis $1,163,000 c. Wobles concerned about future limitations O T 579 expense. How much 5179 expense should Woolardexpence this varifi wors to maximize its depreciation this year and avoid any carryover to future years 3179 pone 3637 | | - - P LCOHIBI TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Month Property Placed in Service Month 1 Month Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 3 Month 9 Month 10 Month 1 Month 12 Year 3.485% 3.182% 2.879% 2.576% 2273% 1970% 16679 1.369% 106196 0.758% 0.4554 0.1529 Year 2.9 3.636 3.6363636363636363636 13.6363.6363.6363.6363.636 3.636 Year 103.637 3.637 3.637 3.637 3.637 3.637 3 63636363636363636363636 Year 11 3.636 3.636 3.6363 636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 12 3637 3.637 3.637 3.637 3637 363636363636 3.636 3.636 3.636 Year 133.636 3.636 3.636 3.636 3.636 3.636 3.637 3637 3.637 3.637 3637 3637 Year 14 3637 3.637 3.637 3.637 3.637 36363.636 3.636 3.636 3 .636 3.636 Year 15 3636 3.636 3.636 3.636 3.636 3.636 3.637 3637 3637 3637 3 637 I 3.637 Year 16 3.637 3.637 | 3.037 3.637 3.637 3.637 6173637 3.636 3.6363636363636363636 Year 17 3.636 3.636 3.636 3.636363636363.637363736973 .637 3637 Year 18 3.637 3.637 3.637 3.637 3.637 3.637 3.63636363636363636363636 Year 19 3.636 3.636 3.636 3.636363636363637363736373.637 36173.637 Year 20 3.637 3637 3637 3.6373.6373.6373.6363.6363.6363.6363.6363.636 3.6363.6363636 3.63636363.636 Year 21 3.817 3.611 3.807 ) 632 3 637 3.637 3.637 3.637 3.637 Year 22 3.637 3.637 3 .636 3.636 3.638 3.636 16161616 3.636 3617 Year 201.6363636363636363636363636373.63761236373637 Year 24 3.637 3.6373.6373.6373.63736373.63636363.63636363636 3.6363 636 3.636 3.636 3.636 3.636 Year 25 3.6373.6373.6373.63736373637 3.637 Year 26 3.637 3.637 3.6373.637 3.637 3.6363.636 1 3.6363.6363.6363.636 Year 27 3.6363.63636363 .6363.63636363.6373.63736373. 613032367 2.879 182 3 3.485 3.6363.636 3.6363.6363 3.636 .636 1.9 2 5 0.19 0.45 0.758 1.0611361687 03 3.637 1 25.00% ] 17.85% Year 2 30.00 30.00 23.47 Year 3 1 18.00 18.00 16.76 Year 4 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 T 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 34.00 25.51 Year 3 20.40 18.22 Year 4 12.24 | 13.02 Year 5 11.30 9.30 Year 6 7.06 8.85 Year 7 Year 8 5.53 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Yearl | 5.00% 3.57 Year 2 1 38.00 27.55 Year 3 22.30 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.38 8.73 Year 7 Year 8 8.86 1.64 TABLE 5 Nonresidential Real Property MW Moth Convention SerigheLine-39 Yuan (forts placed in cow My IX, 1923) Moth Property dla Service Month 1 Month 3 Month 3 Month Month 3 Month 6 M M M M 224519 222479 2011 181941 605 13914 11779 0 9539 2.564 - 2564 2561 2564 2.564 2564 2.364 0.107 0321 0535 0.7490963111713911605 1819 Mench Mall 3219 05 264 2033 264 2347
