Question
The client has chosen to take Bonus Depreciation on $400,000 in new assets purchased in 2018. With the bonus depreciation, the asset makeup of the
The client has chosen to take Bonus Depreciation on $400,000 in new assets purchased in 2018.
With the bonus depreciation, the asset makeup of the new assets are as follows:
| Description | Date Purchased | Purchase Amount | Bonus DepreciationTaken | Remaining Depreciable Basis |
| 5-year MACRS Property | October 2, 2018 | $480,000 | $80,000 | $400,000 |
| 7-year MACRS Property | September 10, 2018 | $320,000 | $320,000 | - |
| Delivery Truck (over 6,000 lbs): 5-year MACRS Property | October 12, 2018 | $40,000 | - | $40,000 |
Using the MACRS tables calculate the Depreciation Expense for the remaining basis for 2018.
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Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
34th Edition
