Required information [The following information applies to the questions displayed below.) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, began business in 2019. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2019 Asset Office furniture Machinery Used delivery truck Cost $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2019 Not considered a luxury automobile. During 2019. Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2020 to increase its production capacity. These are the assets acquired during 2020 Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 480,000 se. 1,200,000 700,000 Date Placed in Service 03/31/2020 05/26/2020 08/15/2020 11/13/2020 TUsed 100% for business purposes Karane generated taxable income in 2020 of $1.732,500 for purposes of computing the $179 expense limitation (Use MACRS Table Tenie. Ihole, abe 4. Table 5 and exhibit 01.) (Leave no answer blank. Enter zero if applicable Input all the values as positive numbers.) Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarte Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 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 8.86 Year 8 5.53 TABLE 20 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27:35 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 3 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 764 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 138 8.74 Year 7 Year 8 8.75 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23.47 Year 3 18.00 16.76 Year 4 11.37 11.97 Year 5 11:33 8.87 Year 6 4.26 8.87 Year 7 8.82 Year 8 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 10.7192 Year 2 34.00 25.51 Year 3 15.22 Search for anything Table 1 MACRS Half-Year Convention 20-Year Year 1 Year 2 Year 3 3.750% 7.219 6.677 Year 4 Depreciation Rate for Recovery Period 3-Year 5 Year 7-Year 10-Year 15-Year 33.33% 20.00% 14.29% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 7.70 11.52 8.93 9.22 6.93 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.90 6.177 5.713 Year 5 Year 6 Year 7 Year 8 5.285 4.888 4.522 Year 9 Year 10 Year 11 3.91 3.90 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 4.462 4.461 4.462 4.461 4.462 4.461 462 461 4.162 1.461 3.91 2.95 Year 19 Year 20 Year 21 4.461 2.231 Month 8 1.364% 3.636 3636 3637 3.636 3.637 3.636 3.636 TABLE 3 Residential Rental Property Mid Month Convention Straight Line-27.5 Years Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Year 1 3.485% 3.182% 2879% 2.576% 2.273% 1970% 1.667% Year 2.9 3.636 3.636 3.636 3.636 3.636 3.636 3.636 Year 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 11 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 12 3.637 3.637 3,637 3.637 3,637 3.637 3.636 Year 13 3.636 3636 3.636 3.636 3.636 3.636 3.637 Year 14 3.637 3.637 3.637 3.637 3.637 3,637 3.636 Year 15 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 16 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 17 3.636 3.636 3.636 3.636 3.636 3.636 3.632 Year 18 3.637 3.637 3.637 3.637 3.637 3.637 3,636 Year 19 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 20 3.637 3.637 3.637 3.637 3.637 3636 Year 21 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 22 3.632 3.637 3.637 3.632 3.637 3.636 Year 23 3.636 3.636 3.636 3.636 3.636 5.636 3.637 Year 24 3.637 3.637 3637 3.637 3,637 5.637 3,636 Year 25 3.636 3.636 3.636 3.636 3.636 3.637 Year 26 3.637 3.637 3.637 3.637 3.637 3.632 3.636 Year 27 3.636 9.636 3.636 3.636 3.636 3.636 3.637 Year 28 1.97 2.273 2.576 2.879 3.182 3.485 3.636 Year 29 0.152 Month 9 Month 10 Month 11 Month 12 1.061% 0.758% 0.455% 0.152% 3 636 3.636 3.636 3.636 3636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.632 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 0756 1.061 1.364 1.667 3.632 3.636 3.632 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.092 3.636 3.637 3.636 0.455 3.637 3.636 TABLE4 Nonresidential Real Property ML Month Convention Straight Line 31.5 Years (for et placed in service before May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month Month 5 Month 6 Month 7 Months Month Yearl 3,0425 2.798% 251394 2.249% 1 98456 1720% 1455% Your 37 1.190% 5175 0926% 3.175 3.175 3.175 3.175 3175 3.175 3.175 Years 3175 3.175 3.174 3.175 3.1974 3.175 3.174 3.175 3.175 Year 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 10 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 11 3.175 3.74 3.175 3174 3.175 3.174 3.175 3.174 3.175 Year 12 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 13 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 14 3.175 3.174 3.175 3.174 3175 3.174 3.175 3.174 3.175 Year 16 3.174 3.125 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 16 3.175 3.114 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 17 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.274 Year 18 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 Year 19 3.174 3.175 3.174 3175 3:174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3175 3.174 3.175 Year 21 3.174 3.175 3.174 3.175 3.174 3.173 3:174 3.175 Year 22 3.175 3.174 3.174 3.175 3.174 3175 3.174 3.115 3.174 3.175 3.174 3:175 3.174 3.13 3.114 3.175 3.174 3.115 3.174 Year 24 3.135 3.174 3.173 3.174 3:13 3174 3.173 3.174 3.115 Year 26 3.174 3.175 3.174 3.175 3.174 3155 3.14 Year 26 3.175 3.174 3.115 3.174 3.175 3.174 3.175 3174 3175 3174 Year 27 3.175 3.174 3.125 3.174 3.175 3.174 3.175 3.114 3.175 Year 15 3.174 3:175 3.174 3175 3.174 3.133 3.114 3.175 Year 19 3.174 3.33 3.174 3.175 3.124 3.173 3.174 3.115 3.114 3.175 3.174 Year 30 5.173 3.174 3133 3.174 3193 3114 3.175 3174 3.173 Year 31 3.114 3.175 3.115 3174 5.173 3174 3.173 3174 Year 3 1.720 1.954 2249 2.513 2.778 3.042 3.13 Year 33 3:24 3.175 0.132 0397 0.661 3.174 Month 10 0.661% 3.175 3175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.134 3.175 3.174 3.175 3.174 3.173 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 0.926 Mouth 11 0.397% 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3:174 3.173 3.174 3.173 3.174 3.175 3.174 3.175 1190 Meath 12 0.1325 3.175 3.195 3.175 3.174 1.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.114 3.173 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.114 3.175 3.114 1.455 Year 20 Year 13 ABLE 5 Nonresidential Real Property Mid Manth Convention Straight Line 39 Year for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Manth 1 Month 3 Month 4 Months Month 6 Month 7 Month 8 Month 9 Year 1 2.46196 2247% 2033% 1.819% 1.605% 1.391% 1.177% 0.963% 0.749% Year 2 39 2564 2564 2564 2.564 2564 2.564 2364 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0963 1177 1.991 1.605 1819 Month 10 0.535% 2.564 2.033 Month 11 0.321% 2.564 2.247 Month 22 0.107% 2564 2.461 Required information ER Det 2019 Assets Office Furniture Machinery Used Delivery Truck 0 0 2020 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 0 Inventory Office Furniture Machinery Patent Good Buiding Land 0 0 0 0 Total os OS DIS OS 01 S 05 0 Required information [The following information applies to the questions displayed below.) Karane Enterprises, a calendar year manufacturer based in College Station, Texas, began business in 2019. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2019 Asset Office furniture Machinery Used delivery truck Cost $ 150,000 1,560,000 40,000 Date Placed in Service 02/03/2019 07/22/2019 08/17/2019 Not considered a luxury automobile. During 2019. Karane was very successful and had no $179 limitations) and decided to acquire more assets in 2020 to increase its production capacity. These are the assets acquired during 2020 Asset Computers & info. system Luxury autot Assembly equipment Storage building Cost $ 480,000 se. 1,200,000 700,000 Date Placed in Service 03/31/2020 05/26/2020 08/15/2020 11/13/2020 TUsed 100% for business purposes Karane generated taxable income in 2020 of $1.732,500 for purposes of computing the $179 expense limitation (Use MACRS Table Tenie. Ihole, abe 4. Table 5 and exhibit 01.) (Leave no answer blank. Enter zero if applicable Input all the values as positive numbers.) Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarte Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 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 8.86 Year 8 5.53 TABLE 20 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27:35 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 3 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 764 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5 Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 138 8.74 Year 7 Year 8 8.75 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 25.00% 17.85% Year 2 30.00 23.47 Year 3 18.00 16.76 Year 4 11.37 11.97 Year 5 11:33 8.87 Year 6 4.26 8.87 Year 7 8.82 Year 8 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 10.7192 Year 2 34.00 25.51 Year 3 15.22 Search for anything Table 1 MACRS Half-Year Convention 20-Year Year 1 Year 2 Year 3 3.750% 7.219 6.677 Year 4 Depreciation Rate for Recovery Period 3-Year 5 Year 7-Year 10-Year 15-Year 33.33% 20.00% 14.29% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 7.70 11.52 8.93 9.22 6.93 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.90 6.177 5.713 Year 5 Year 6 Year 7 Year 8 5.285 4.888 4.522 Year 9 Year 10 Year 11 3.91 3.90 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 4.462 4.461 4.462 4.461 4.462 4.461 462 461 4.162 1.461 3.91 2.95 Year 19 Year 20 Year 21 4.461 2.231 Month 8 1.364% 3.636 3636 3637 3.636 3.637 3.636 3.636 TABLE 3 Residential Rental Property Mid Month Convention Straight Line-27.5 Years Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Year 1 3.485% 3.182% 2879% 2.576% 2.273% 1970% 1.667% Year 2.9 3.636 3.636 3.636 3.636 3.636 3.636 3.636 Year 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 11 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 12 3.637 3.637 3,637 3.637 3,637 3.637 3.636 Year 13 3.636 3636 3.636 3.636 3.636 3.636 3.637 Year 14 3.637 3.637 3.637 3.637 3.637 3,637 3.636 Year 15 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 16 3.637 3.637 3.637 3.637 3.637 3.637 3.636 Year 17 3.636 3.636 3.636 3.636 3.636 3.636 3.632 Year 18 3.637 3.637 3.637 3.637 3.637 3.637 3,636 Year 19 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 20 3.637 3.637 3.637 3.637 3.637 3636 Year 21 3.636 3.636 3.636 3.636 3.636 3.636 3.637 Year 22 3.632 3.637 3.637 3.632 3.637 3.636 Year 23 3.636 3.636 3.636 3.636 3.636 5.636 3.637 Year 24 3.637 3.637 3637 3.637 3,637 5.637 3,636 Year 25 3.636 3.636 3.636 3.636 3.636 3.637 Year 26 3.637 3.637 3.637 3.637 3.637 3.632 3.636 Year 27 3.636 9.636 3.636 3.636 3.636 3.636 3.637 Year 28 1.97 2.273 2.576 2.879 3.182 3.485 3.636 Year 29 0.152 Month 9 Month 10 Month 11 Month 12 1.061% 0.758% 0.455% 0.152% 3 636 3.636 3.636 3.636 3636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.632 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 0756 1.061 1.364 1.667 3.632 3.636 3.632 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.092 3.636 3.637 3.636 0.455 3.637 3.636 TABLE4 Nonresidential Real Property ML Month Convention Straight Line 31.5 Years (for et placed in service before May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month Month 5 Month 6 Month 7 Months Month Yearl 3,0425 2.798% 251394 2.249% 1 98456 1720% 1455% Your 37 1.190% 5175 0926% 3.175 3.175 3.175 3.175 3175 3.175 3.175 Years 3175 3.175 3.174 3.175 3.1974 3.175 3.174 3.175 3.175 Year 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 10 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 11 3.175 3.74 3.175 3174 3.175 3.174 3.175 3.174 3.175 Year 12 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 13 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 14 3.175 3.174 3.175 3.174 3175 3.174 3.175 3.174 3.175 Year 16 3.174 3.125 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 16 3.175 3.114 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 17 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.274 Year 18 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 Year 19 3.174 3.175 3.174 3175 3:174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3175 3.174 3.175 Year 21 3.174 3.175 3.174 3.175 3.174 3.173 3:174 3.175 Year 22 3.175 3.174 3.174 3.175 3.174 3175 3.174 3.115 3.174 3.175 3.174 3:175 3.174 3.13 3.114 3.175 3.174 3.115 3.174 Year 24 3.135 3.174 3.173 3.174 3:13 3174 3.173 3.174 3.115 Year 26 3.174 3.175 3.174 3.175 3.174 3155 3.14 Year 26 3.175 3.174 3.115 3.174 3.175 3.174 3.175 3174 3175 3174 Year 27 3.175 3.174 3.125 3.174 3.175 3.174 3.175 3.114 3.175 Year 15 3.174 3:175 3.174 3175 3.174 3.133 3.114 3.175 Year 19 3.174 3.33 3.174 3.175 3.124 3.173 3.174 3.115 3.114 3.175 3.174 Year 30 5.173 3.174 3133 3.174 3193 3114 3.175 3174 3.173 Year 31 3.114 3.175 3.115 3174 5.173 3174 3.173 3174 Year 3 1.720 1.954 2249 2.513 2.778 3.042 3.13 Year 33 3:24 3.175 0.132 0397 0.661 3.174 Month 10 0.661% 3.175 3175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.134 3.175 3.174 3.175 3.174 3.173 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 0.926 Mouth 11 0.397% 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3:174 3.173 3.174 3.173 3.174 3.175 3.174 3.175 1190 Meath 12 0.1325 3.175 3.195 3.175 3.174 1.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.114 3.173 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.114 3.175 3.114 1.455 Year 20 Year 13 ABLE 5 Nonresidential Real Property Mid Manth Convention Straight Line 39 Year for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Manth 1 Month 3 Month 4 Months Month 6 Month 7 Month 8 Month 9 Year 1 2.46196 2247% 2033% 1.819% 1.605% 1.391% 1.177% 0.963% 0.749% Year 2 39 2564 2564 2564 2.564 2564 2.564 2364 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0963 1177 1.991 1.605 1819 Month 10 0.535% 2.564 2.033 Month 11 0.321% 2.564 2.247 Month 22 0.107% 2564 2.461 Required information ER Det 2019 Assets Office Furniture Machinery Used Delivery Truck 0 0 2020 Assets Computers & Info. System Luxury Auto Assembly Equipment Storage Building 0 0 0 Inventory Office Furniture Machinery Patent Good Buiding Land 0 0 0 0 Total os OS DIS OS 01 S 05 0
