Same question part a,b and c. Can i get help please
MACRS tables Added !
Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the 5179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchane Date December 1 February 28 July 15 May 22 Basis $ 470,000 110,000 50,000 500,000 $1,130,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's 5179 carryforward to 2021, if any? Maximum $179 expense Maximum $179 carryforward 0-2 Required Information The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the 5179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 May 22 Banis $ 470,000 110,000 50,000 500,000 $1,130,000 b. What would Timberline's maximum depreciation deduction be for 2020 assuming no bonus depreciation? (Round your Intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation Deduction (including 5179 expense) COD 8 9 Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 Banta $ 470,000 110,000 50,000 500,000 $1,130,000 May 22 c. What would Timberline's maximum depreciation deduction be for 2020 if the machinery cost $3,700,000 instead of $500,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation deduction (including S179 expense) Table 1 MACRS Half-Year Convention Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% 44.45 32.00 24.49 18.00 9.50 7.219 14.81 19.20 17.49 14.40 8.55 6.677 7.41 11.52 12.49 11.52 7.70 6.177 11.52 8.93 9.22 6.93 5.713 5.76 8.92 7.37 6.23 5.285 8.93 6.55 5.90 4.888 4.46 6.55 5.90 4.522 6.56 5.91 4.462 6.55 5.90 4.461 3.28 5.91 4.462 5.90 4.461 5.91 4.462 5.90 4.461 5.91 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 TABLE 2a MACRS Mid-Quarter Convention: For property placed in ser Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00% 25.00% 26.00 21.43 15.60 15.31 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 11.01 11.01 1.38 10.93 8.75 8.74 8.75 Year 8 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service 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 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2 MACRS Mid-Quarter Convention: For properry placed in service during Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.0098 10.7196 Year 2 34.00 25.51 Linhatuta.com Connect Production year 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2 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 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 properry Slaced 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 27.55 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-275 Years Month 8 1.3649 3.636 3.636 3.637 3.636 Month 1 Year 1 3.485% Year 2-9 3.636 Year 10 3.637 Year 11 3.636 Year 12 3.637 Year 13 3.636 Year 14 3.637 Year 15 3.636 Year 16 3.637 Year 17 3.636 Year 18 3,637 Year 19 3.636 Year 20 3.637 Year 21 3.636 Year 22 3.637 Year 23 3.636 Year 24 3.637 Year 25 3.636 Year 26 3.637 Year 27 3.636 Year 28 1.97 Year 29 3.637 3.636 3.637 3.636 Month 2 3.1829 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 2.273 Month 3 2.879% 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 2576 Month 4 2.576% 3636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 Month Property Placed In Service Month 5 Month 6 Month 7 2.273% 1.970% 1.6679 3,636 3.636 3.636 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3,637 3.636 3.636 3,636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3,637 3.637 3.637 3.636 3.636 3,636 3,637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 1.636 1637 3.182 3.485 3.6.36 0.152 Month 9 Month 10 Month 11 Month 12 1.06156 0.758 0.455 0.15296 3.636 3.636 3.636 3.636 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 3636 3.636 3.636 3.637 3.637 3.637 J.637 3.636 3.636 3.636 3.636 3.637 3.637 3637 3.637 3.636 3.636 3.636 3.616 3.637 3.637 3.637 3.637 3.636 3.636 3.6.16 3.636 3.637 3.637 3.637 3,637 3.66 3.636 1.636 3.6.15 3.637 3,037 1.637 3.636 3.636 2.636 3,636 0.758 2001 1.364 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3637 3.636 3.637 3.637 3.636 3.637 3.636 3.637 3.636 2.879 3.636 0435 Manth 11 0.3975 3.175 Month 12 0.1329 30175 3.75 3.175 3.174 Month 10 0.6619 3.175 3.175 3.175 3.174 3.175 3.174 3.175 1.174 3.75 3.194 3.175 3.175 3.174 3.75 3.174 3.175 3.174 1.175 3.174 3.174 3.175 2.174 3.175 PE 3.79 3.174 BLE 4 Nonresidential Real Property Mld-Month Convention Straight Line-315 Years (for assets placed in service before May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Months Month 6 Year 1 Month 7 3042% Months Month 9 2.778% 2.513% 2.249% 19845 1.7204 1455% 1.190 Year 2-7 0.9268 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 Years 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 Year 9 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 3.175 Year 11 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 12 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 13 3.174 3.174 3.175 3.174 3.175 3.174 3.175 1.19 Year 14 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 15 3.174 3.175 3.174 3.175 3.174 3.15 3.174 3.175 Year 16 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.194 3.175 3.174 Year 17 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 Year 18 3.174 3.175 3.174 3.125 3.175 3.175 3.114 Year 19 3.175 3.174 3.174 3.175 3:24 3.175 3174 3.174 3.175 3.175 Year 20 3.175 3174 3.174 3.175 3.174 3.174 3.115 3.175 3.174 3.174 Year 21 3.174 3175 3.175 3.174 3.175 3.174 1.115 3.174 3.175 174 Year 22 3.195 3.114 3.115 3.114 3:19 3.175 3.175 3.174 Year 2 3174 3.175 3.174 3.175 3.115 3.17 3.175 Yex 34 3.175 3195 3194 3174 3175 3174 3.179 Year 25 319 Year 26 3.174 3.175 3:175 3.175 3.174 114 3.175 3.174 3.115 3.175 Year 21 3.174 3.175 3.174 3.175 Year 28 3.134 3.195 3.14 Year 29 1114 11 IM 1179 Veurs 3.174 3.175 3174 3124 3.175 3.114 Year 31 3.174 3.125 3.174 175 5.174 1.17 3.175 3.174 3.173 3.1 3.178 3.175 3.175 3.114 2014 1.19 LIE SERT WIE LE 374 3.174 PIE 3.174 3.174 124 WE 2.11 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line -- 39 Years (for assets placed in service on or after May 13,1983) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Months Month 6 Month 7 Months Month Year 1 2.461 2247% 20334 1.8199 1.605% 1.9918 1.1770 0.963% 0.749 Year 2-39 2.564 2.564 2.564 2.564 2564 2.564 2.564 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0.963 1.177 1391 1605 1.819 Month 10 0.51 2564 2033 Month 11 03210 2.564 1.247 Meath 11 0.1079 2564 2.461 Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the 5179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchane Date December 1 February 28 July 15 May 22 Basis $ 470,000 110,000 50,000 500,000 $1,130,000 Required: a-1. What is the maximum amount of $179 expense Timberline may deduct for 2020? a-2. What is Timberline's 5179 carryforward to 2021, if any? Maximum $179 expense Maximum $179 carryforward 0-2 Required Information The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the 5179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 May 22 Banis $ 470,000 110,000 50,000 500,000 $1,130,000 b. What would Timberline's maximum depreciation deduction be for 2020 assuming no bonus depreciation? (Round your Intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation Deduction (including 5179 expense) COD 8 9 Required information [The following information applies to the questions displayed below.) Assume that Timberline Corporation has 2020 taxable income of $260,000 for purposes of computing the $179 expense. It acquired the following assets in 2020: (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Asset Furniture (7-year) Computer equipment (5-year) Copier (5-year) Machinery (7-year) Total Purchase Date December 1 February 28 July 15 Banta $ 470,000 110,000 50,000 500,000 $1,130,000 May 22 c. What would Timberline's maximum depreciation deduction be for 2020 if the machinery cost $3,700,000 instead of $500,000 and assuming no bonus depreciation? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Maximum Depreciation deduction (including S179 expense) Table 1 MACRS Half-Year Convention Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% 44.45 32.00 24.49 18.00 9.50 7.219 14.81 19.20 17.49 14.40 8.55 6.677 7.41 11.52 12.49 11.52 7.70 6.177 11.52 8.93 9.22 6.93 5.713 5.76 8.92 7.37 6.23 5.285 8.93 6.55 5.90 4.888 4.46 6.55 5.90 4.522 6.56 5.91 4.462 6.55 5.90 4.461 3.28 5.91 4.462 5.90 4.461 5.91 4.462 5.90 4.461 5.91 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 TABLE 2a MACRS Mid-Quarter Convention: For property placed in ser Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00% 25.00% 26.00 21.43 15.60 15.31 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 11.01 11.01 1.38 10.93 8.75 8.74 8.75 Year 8 1.09 TABLE 26 MACRS Mid-Quarter Convention: For property placed in service 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 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2 MACRS Mid-Quarter Convention: For properry placed in service during Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.0098 10.7196 Year 2 34.00 25.51 Linhatuta.com Connect Production year 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Year 8 3.34 TABLE 2 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 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 properry Slaced 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 27.55 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-275 Years Month 8 1.3649 3.636 3.636 3.637 3.636 Month 1 Year 1 3.485% Year 2-9 3.636 Year 10 3.637 Year 11 3.636 Year 12 3.637 Year 13 3.636 Year 14 3.637 Year 15 3.636 Year 16 3.637 Year 17 3.636 Year 18 3,637 Year 19 3.636 Year 20 3.637 Year 21 3.636 Year 22 3.637 Year 23 3.636 Year 24 3.637 Year 25 3.636 Year 26 3.637 Year 27 3.636 Year 28 1.97 Year 29 3.637 3.636 3.637 3.636 Month 2 3.1829 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 2.273 Month 3 2.879% 3.636 3.637 3.636 3,637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 2576 Month 4 2.576% 3636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3,636 3.637 3.636 Month Property Placed In Service Month 5 Month 6 Month 7 2.273% 1.970% 1.6679 3,636 3.636 3.636 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3,637 3.636 3.636 3,636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 3.636 3,637 3.637 3.637 3.636 3.636 3,636 3,637 3.637 3.637 3.636 3.636 3.636 3.637 3.637 3.637 3.636 3.636 1.636 1637 3.182 3.485 3.6.36 0.152 Month 9 Month 10 Month 11 Month 12 1.06156 0.758 0.455 0.15296 3.636 3.636 3.636 3.636 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 3636 3.636 3.636 3.637 3.637 3.637 J.637 3.636 3.636 3.636 3.636 3.637 3.637 3637 3.637 3.636 3.636 3.636 3.616 3.637 3.637 3.637 3.637 3.636 3.636 3.6.16 3.636 3.637 3.637 3.637 3,637 3.66 3.636 1.636 3.6.15 3.637 3,037 1.637 3.636 3.636 2.636 3,636 0.758 2001 1.364 3.637 3.636 3.637 3.636 3.637 3.636 3.637 3.636 3637 3.636 3.637 3.637 3.636 3.637 3.636 3.637 3.636 2.879 3.636 0435 Manth 11 0.3975 3.175 Month 12 0.1329 30175 3.75 3.175 3.174 Month 10 0.6619 3.175 3.175 3.175 3.174 3.175 3.174 3.175 1.174 3.75 3.194 3.175 3.175 3.174 3.75 3.174 3.175 3.174 1.175 3.174 3.174 3.175 2.174 3.175 PE 3.79 3.174 BLE 4 Nonresidential Real Property Mld-Month Convention Straight Line-315 Years (for assets placed in service before May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Months Month 6 Year 1 Month 7 3042% Months Month 9 2.778% 2.513% 2.249% 19845 1.7204 1455% 1.190 Year 2-7 0.9268 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 Years 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 Year 9 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 3.175 Year 11 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 12 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 13 3.174 3.174 3.175 3.174 3.175 3.174 3.175 1.19 Year 14 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 15 3.174 3.175 3.174 3.175 3.174 3.15 3.174 3.175 Year 16 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.194 3.175 3.174 Year 17 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 Year 18 3.174 3.175 3.174 3.125 3.175 3.175 3.114 Year 19 3.175 3.174 3.174 3.175 3:24 3.175 3174 3.174 3.175 3.175 Year 20 3.175 3174 3.174 3.175 3.174 3.174 3.115 3.175 3.174 3.174 Year 21 3.174 3175 3.175 3.174 3.175 3.174 1.115 3.174 3.175 174 Year 22 3.195 3.114 3.115 3.114 3:19 3.175 3.175 3.174 Year 2 3174 3.175 3.174 3.175 3.115 3.17 3.175 Yex 34 3.175 3195 3194 3174 3175 3174 3.179 Year 25 319 Year 26 3.174 3.175 3:175 3.175 3.174 114 3.175 3.174 3.115 3.175 Year 21 3.174 3.175 3.174 3.175 Year 28 3.134 3.195 3.14 Year 29 1114 11 IM 1179 Veurs 3.174 3.175 3174 3124 3.175 3.114 Year 31 3.174 3.125 3.174 175 5.174 1.17 3.175 3.174 3.173 3.1 3.178 3.175 3.175 3.114 2014 1.19 LIE SERT WIE LE 374 3.174 PIE 3.174 3.174 124 WE 2.11 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line -- 39 Years (for assets placed in service on or after May 13,1983) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Months Month 6 Month 7 Months Month Year 1 2.461 2247% 20334 1.8199 1.605% 1.9918 1.1770 0.963% 0.749 Year 2-39 2.564 2.564 2.564 2.564 2564 2.564 2.564 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0.963 1.177 1391 1605 1.819 Month 10 0.51 2564 2033 Month 11 03210 2.564 1.247 Meath 11 0.1079 2564 2.461
