At the beginning of the year, Anna began a calendar-year business and placed in service the following assets during the
Posted: Sun May 29, 2022 8:47 pm
At the beginning of the year, Anna began a calendar-year
business and placed in service the following assets during the
year:
Assuming Anna does not elect ยง179 expensing and elects not to
use bonus depreciation, answer the following questions: (Use
MACRS Table 1, Table 2, Table 3, Table
4 and Table 5.) (Do not round intermediate
calculations. Round your final answers to the nearest whole dollar
amount.)
a. What is Anna's year 1 cost recovery for each asset? Answer is complete but not entirely correct. Asset Year 1 Cost Recovery 5,600 4,573 10,718 Computers Office desks Machinery Office building Total $ $ 69 69 69 $ 69 69 $ 3,864 X 24,755
business and placed in service the following assets during the
year:
Assuming Anna does not elect ยง179 expensing and elects not to
use bonus depreciation, answer the following questions: (Use
MACRS Table 1, Table 2, Table 3, Table
4 and Table 5.) (Do not round intermediate
calculations. Round your final answers to the nearest whole dollar
amount.)
a. What is Anna's year 1 cost recovery for each asset? Answer is complete but not entirely correct. Asset Year 1 Cost Recovery 5,600 4,573 10,718 Computers Office desks Machinery Office building Total $ $ 69 69 69 $ 69 69 $ 3,864 X 24,755