During 2020, Pepe Guardio purchases the following property for use in his calendar year-end manufacturing business: Pepe

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During 2020, Pepe Guardio purchases the following property for use in his calendar year-end manufacturing business:

Item Manufacturing equipment (7 year) Office furniture Office computer Passenger automobile (used 85 percent

Pepe uses the accelerated depreciation method under MACRS, if available, and does not make the election to expense and elects out of bonus depreciation. Use Form 4562 on Pages 8-43 and 8-44 to report Pepe’s depreciation expense for 2020.

GROUP 2: PROBLEM 11 Form 4562 Department of the Treasury Internal Revenue Service (99 Name(a) shown on retur

Form 4562 (2020) Page 2 Part V Listed Property (Include automobiles, certain other vehicles, certain

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Related Book For  answer-question

Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill

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