Howard Fields (SSN 748-29-4631) operates the U.B. Fields Company as a sole proprietorship. H.B. Fields has the
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Howard Fields (SSN 748-29-4631) operates the U.B. Fields Company as a sole proprietorship. H.B. Fields has the following depreciable property. The auto is used 100% for business. Howard has written evidence of the business use, which was 19,280 miles in 2015. He has another vehicle he uses for personal use. Using this information, prepare Howard’s 2015 Form 4562, Depreciation and Amortization.
Date of Acquisition | Item | Cost | Averaging Convention |
Jan 30, 2014 | Used Car | 24,000 | HY |
Mar 10, 2015 | Garage for Auto | 39,000 | MM |
Aug 06, 2015 | New Machine | 12,460 | HY |
Dec 01, 2013 | Used Desk | 1,910 | MQ |
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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