Go to the IRS website (www.irs.gov) and assuming bonus depreciation is used, redo Problem 15, using the most recent interactive Form 4562, Depreciation and Amortization. Print out the completed Form 4562.

Problem 15:

During 2016, Palo Fiero purchases the following property for use in his calendar year-end manufacturing business:

Palo uses the accelerated depreciation method under MACRS, if available, and does not make the election to expense or take bonus depreciation. Use Form 4562 on Pages 7-37 and 7-38 to report Palo’s depreciation expense for 2016.