Go to the IRS website at www.irs.gov and print Form 4562. Using the following information, complete this
Question:
Go to the IRS website at www.irs.gov and print Form 4562. Using the following information, complete this form to the extent possible. Barclays Corporation, a calendar-year taxpayer, had taxable income of $2,000,000 for 2017 before computing its depreciation deduction. It purchased and placed the following business assets in service:
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Date placed in service Initial cost Asset New automobile New computer equipment Used office furniture Used office fixtures February 15 $42,000 May 17 August 25 400,000 752,000 1,100,000 September 15
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Form 4562 Department of the Treasury Internal Revenue Service 99 Names shown on return Barclays Corporation Part I Election To Expense Certain Property Under Section 179 Note If you have any listed pr...View the full answer
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Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
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