Tracy acquires an automobile (MACRS 5-year recovery) on March 1, 2016. He uses the automobile 70% of
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Tracy acquires an automobile (MACRS 5-year recovery) on March 1, 2016. He uses the automobile 70% of the time in his business and 30% of the time for personal use. The automobile cost $36,000. No amount is expensed under Sec. 179, and Tracy elects out of bonus depreciation
a. What is depreciation for 2016–2021 and any subsequent years?
b. How would your answer to Part a change if the vehicle were a SUV with a gross vehicle weight rated (GVWR) of over 6,000 pounds and Tracy elected to expense the SUV under Sec. 179?
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a Depreciation for 20162021 and subsequent years is computed as follows 100 BusinessUse MACRS Deduct...View the full answer
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