Casper used the following assets in his Schedule C trade or business in the tax year 2015:
Question:
Casper used the following assets in his Schedule C trade or business in the tax year 2015:
Casper is a new client and unfortunately does not have a copy of his prior year tax return. He recalls that all of the assets purchased in prior years used MACRS depreciation (no §179 expense was taken). Casper does not wish to take a §179. Calculate the current year depreciation allowance for Casper's business. Correctly report the amounts on Form 4562.
Transcribed Image Text:
Asset DatePurch |Date Sold Business Cost se Computer 1 03/12/12 Computer 2 | 05/05/12 Printer 100% | 05/15/15 | 100% 100% $3,000 S2,500 $2,200 08/25/15 Computer 3 05/25/15 Equipment 03/20/13 Auto Furniture 1 100% 100% 90% | 100% 100% 100% $2,800 S2,700 $20,000 $22,000 $3,600 S330,000 05/01/15 | 02/12/13 | 08/25/15 Fumiture 2 08/15/13 Office bldg. 04/01/15
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Related Book For
Fundamentals Of Taxation 2016
ISBN: 9781259812774
9th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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