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 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021 : 'Not considered a luxury automobile. During 2021, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: 'Used 1009 for business purposes. Karane generated taxable income in 2022 of $1,792.500 for purposes of computing the $179 expense limitation. (Use MACRS Table 1. Table 2, Table 3. Tabie 4. Table 5 , and Exhibit 10-10.) Note: Leave no answer blonk. Enter zero if applicable. Input all the values as positive numbers. Table 1 MACRS Half-Year Convention TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter TABI. 3 Resideutial Rental Property Mid-Month Convention Straight Line-27.5 Years FNIIIBIT 10-10 Antomobile Depreciation Limits Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation). Required: b. Compute the maximum 2022 depreciation deductions, including $179 expense (ignoring bonus depreciation). c. Compute the maximum 2022 depreciation deductions, Including 5179 expense, but now assume that Karane would like to take bonus depreciation. Required information (1) Required information Wote: Do not use Pait Ill or Pait ill below for listed property Instead use Part V \begin{tabular}{l|c|c|c|c|} Partili Special Depreciation Allowance and Other Depreciation & (Dont include listed property see instructions) \end{tabular} 1 Required information 18 if you are ciecting 10 group any assets placed in service during the tax year into one or more general asset accounts. check. bere Section C-Assets Placed in Service During 2021 Tax Year Using the Alternative Depreciation System Required information Form 4562 (2022) THIS FORM I5 A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURFOSE OTHER THAN EDUCATIONAL. 2022 McOraw Hil Education. (2022) Note: For any vehole for which you are using the standid miesge rate or deductim leuse expense, comple only 240,240 , coumns (a) wrough (c) of Section A al of Secton B, and Section C ir applicasie. 26 Property used more than 50% in a quaxsed business use? 20 Add amounts in columa (iv) ines 25 through 27 . Enter hete and on line 21, page 1 29 Ado amounts in colurn (9. Ine 26 . Enter here and on ine 7. page 1 Section B-Information on Use of Vehicles 37 Do you mairtain a witten policy statement that prohibits all personal use of vehucles, inclucing commuting, by your employees? 33 Do you maintain a wraten policy statement that prohibts personal tree of vehicles, except cornmuting. by your employees? see the instructions for vehicles used by corporate officers, directors, of twe of mare osners 39 Do you ticat all use of vehicles by employees as personas use? 40 Do you provide more than five vehickes 10 your employees, obtain micematoon from your employees about the use of the vehicles, and retain the intormation received? 41 Do you meet the tequrements concerning qualified autionoble demonstration use? See instructions. 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 2021. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2021 : 'Not considered a luxury automobile. During 2021, Karane was very successful (and had no $179 limitations) and decided to acquire more assets in 2022 to increase its production capacity. These are the assets acquired during 2022: 'Used 1009 for business purposes. Karane generated taxable income in 2022 of $1,792.500 for purposes of computing the $179 expense limitation. (Use MACRS Table 1. Table 2, Table 3. Tabie 4. Table 5 , and Exhibit 10-10.) Note: Leave no answer blonk. Enter zero if applicable. Input all the values as positive numbers. Table 1 MACRS Half-Year Convention TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter TABLE 2c MACRS Mid-Quarter Convention: For property placed in service during the third quarter TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter TABI. 3 Resideutial Rental Property Mid-Month Convention Straight Line-27.5 Years FNIIIBIT 10-10 Antomobile Depreciation Limits Compute the maximum 2021 depreciation deductions, including $179 expense (ignoring bonus depreciation). Required: b. Compute the maximum 2022 depreciation deductions, including $179 expense (ignoring bonus depreciation). c. Compute the maximum 2022 depreciation deductions, Including 5179 expense, but now assume that Karane would like to take bonus depreciation. Required information (1) Required information Wote: Do not use Pait Ill or Pait ill below for listed property Instead use Part V \begin{tabular}{l|c|c|c|c|} Partili Special Depreciation Allowance and Other Depreciation & (Dont include listed property see instructions) \end{tabular} 1 Required information 18 if you are ciecting 10 group any assets placed in service during the tax year into one or more general asset accounts. check. bere Section C-Assets Placed in Service During 2021 Tax Year Using the Alternative Depreciation System Required information Form 4562 (2022) THIS FORM I5 A SIMULATION OF AN OFFICIAL U.S. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILINGS OR FOR ANY PURFOSE OTHER THAN EDUCATIONAL. 2022 McOraw Hil Education. (2022) Note: For any vehole for which you are using the standid miesge rate or deductim leuse expense, comple only 240,240 , coumns (a) wrough (c) of Section A al of Secton B, and Section C ir applicasie. 26 Property used more than 50% in a quaxsed business use? 20 Add amounts in columa (iv) ines 25 through 27 . Enter hete and on line 21, page 1 29 Ado amounts in colurn (9. Ine 26 . Enter here and on ine 7. page 1 Section B-Information on Use of Vehicles 37 Do you mairtain a witten policy statement that prohibits all personal use of vehucles, inclucing commuting, by your employees? 33 Do you maintain a wraten policy statement that prohibts personal tree of vehicles, except cornmuting. by your employees? see the instructions for vehicles used by corporate officers, directors, of twe of mare osners 39 Do you ticat all use of vehicles by employees as personas use? 40 Do you provide more than five vehickes 10 your employees, obtain micematoon from your employees about the use of the vehicles, and retain the intormation received? 41 Do you meet the tequrements concerning qualified autionoble demonstration use? See instructions