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(The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2019. The auto was the
(The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2019. The auto was the only business asset she purchased during the year and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) b. The vehicle cost $80,000, and business use is 100 percent. Answer is complete but not entirely correct. Year 2019 Depreciation deduction 16,000 X 25,600 2020 Required information (The following information applies to the questions displayed below.] Lina purchased a new car for use in her business during 2019. The auto was the only business asset she purchased during the year and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) c. The vehicle cost $80,000, and she used it 80 percent for business. X Answer is complete but not entirely correct. Year 2019 $ Depreciation deduction 12,800 x 20,480 2020 Required information [The following information applies to the questions displayed below.) Lina purchased a new car for use in her business during 2019. The auto was the only business asset she purchased during the year and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) f. The vehicle cost $80,000 and is an SUV that weighs 6,500 pounds. Business use was 100 percent. Answer is complete but not entirely correct. Year Depreciation d eduction $ 2019 2020 36,000 17,600 X
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