Question
them 2 of 4.20 points During 2020, Betty made the three capital expenditures described below related to her trade and business activities Assume that no
them 2 of 4.20 points During 2020, Betty made the three capital expenditures described below related to her trade and business activities Assume that no other assets were and ends on December 31st. Asset Phase Date Total Cest Apartment Building October 31, 2020 Selvage or Residual Valu $2,000,000* Computers (5-year) August 15, 2020 $ 800,000 $150,000 $40,000 Furniture (7-year February 01, 2020 $ 150,000 $ 30,000 Assume Betty determines that $1,000,000 of the $2,000,000 total cost is allocated to land a) Ignoring any Section 179 election and bonus depreciation, show your calculation of the largest tax depreciation deductions that Betty can claim f 1) 2020 depreciation deduction for the Apartment Building 23 2021 depreciation deduction for the Apartment Building 3) 2020 depreciation deduction for the Computers 4) 2021 depreciation deduction for the Computers 5) 2020 depreciation deduction for the Furniture 6) 20201 depreciation deduction for the Furniture aels were disposed of in 2020 or 2021 Betty's a year the following items b) Independent of your previous answers, now assume that Betty purchased the Computers on December 01, 2020 rather than August 15, 2020 eating any Section 129 election and bonus depreciation, how your calculation of the largest tax depreciation deduction that Betty can claim for each of the following items: 1) 2020 depreciation deduction for the Computers 21 2021 depreciation deduction for the Computers 3) 2020 depreciation deduction for the Furniture 4) 20201 depreciation deduction for the Furniture c) Independent of your previous answers, NOW assume that Betty purchased a Commercial Warehouse on April 1.2020 (rather than an Apartment Building on October 31) for the same total cost and amount allocated to land as before. Ignoring any Section 179 election and bonus depreciation, show your calculation of the largest tax depreciation deduction that Betty can claim for each of the following 1) 2020 depreciation deduction for the Commercial Warehouse 23 2021 depreciation deduction for the Commercial Warehouse d) independent of your previous answers, return to the original assumptions (Computers were purchased in August and an Apartment Building was purchased in October), NOW assume that the Furniture was purchased for $1,500,000 (rather than $150,000). NOW considerids the Section 179 election AND bonus depreciation, show your calculation of the largest tax depreciation deduction that Betty can claim for each of the following items: 1) 2020 depreciation deduction for the Computers 2) 2021 depreciation deduction for the Computers 3) 2020 depreciation deduction for the Furniture 4) 20201 depreciation deduction for the Furniture
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