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When solving for 2019 Tax Year, please ASSUME that the real property was placed in business after May 13,1993 46. At the beginning of the
When solving for 2019 Tax Year, please ASSUME that the real property was placed in business after May 13,1993
46. At the beginning of the year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets dur- ing the year: Asset Date Acquired Cost Basis Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) 3/23 5/12 9/17 10/11 10/11 $ 5,000 7,000 10,000 270,000 80,000 Assuming Poplock does not elect 8179 expensing and elects not to use bonus depre- ciation, answer the following questions: a) What is Poplock's year 1 depreciation deduction for each asset? b) What is Poplock's year 2 depreciation deduction for each asset Step by Step Solution
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