Cengage Learning x "CengageNOWv2 | Online tec x MindTap - Cengage Learnin x | ChatGPT x G Modified Accelerated Cost | X G form 4562 passanger auton x Homework Help - Q&A from x |+ F G 9 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false S Log In Mail - Klase, Sarah... A Blackboard Learn M Sign In | Connect |... S. Environment and T... myc my.ctstate.edu Home | Microsoft... Students: Find Wh... Free MLA Citation. WP WileyPLUS ChatGPT P MLA Overview and... > > All Bookmarks Chapter 08 Homework eBook 1. SSP.08-01 Problem 8-14 ? Modified Accelerated Cost Recovery System (MACRS) and Bonus Depreciation, Listed Property, Limitation on Depreciation of Luxury Automobiles (LO 8.2, 8.4, 8.5) 2. SSP.08-03 During 2023, Pepe Guardio purchases the following property for use in his calendar year-end manufacturing business: 3. SSP.08-05 Item Date Acquired Cost Manufacturing equipment (7 year) June 2 $60,000 4. SSP.08-07 Office furniture September 15 10,000 5. SSP.08-09 Office computer November 18 1,600 Passenger automobile 6. MC.08-22 (used 90 percent for business) May 31 55,000 7. PR.08-03 Warehouse May 9 Building 180,000 8. PR.08-06.Algo Land 135,000 9. PR.08-11.Algo Pepe uses the accelerated depreciation method under MACRS and takes bonus depreciation. 10. PR.08-14 Complete Form 4562, Pepe's depreciation expense for 2023. 11. PR.08-16.Algo If required, round your answers to the nearest dollar. If an amount is zero, enter "0". Enter amounts as positive numbers. 12. PR.08-18.Algo Click here to access the depreciation tables and here to view Table 8.1: Recovery Periods for Assets Placed in Service After 1986 and Annual automobile depreciation limitations . 13. PR.08-19 OMB No. 1545-0172 14. PR.08-20 Form 4562 Depreciation and Amortization (Including Information on Listed Property) 2023 Department of the Treasury 15. PR.08-21.Algo Attach to your tax return. Internal Revenue Service Attachment Go to www.irs.gov/Form4562 for instructions and the latest information. Sequence No. 179 16. PR.08-23.Algo Progress: 10/17 items Check My Work Previous Next Assignment Score: 95.53% All work saved. Email Instructor Save and Exit Submit Assignment for GradingCengage Learning x CengageNOWv2 | Online tec x MindTap - Cengage Learnin x | ChatGPT x G Modified Accelerated Cost | X G form 4562 passanger auton x Homework Help - Q&A from x |+ F G 9 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false S Log In 0 Mail - Klase, Sarah... A Blackboard Learn M Sign In | Connect |... S. Environment and T... myc my.ctstate.edu Home | Microsoft... Students: Find Wh... Free MLA Citation... WP WileyPLUS & ChatGPT P MLA Overview and.. > > All Bookmarks Chapter 08 Homework eBook Note: If you have any listed property, complete Part V before you complete Part I. 1. SSP.08-01 1 Maximum amount (see instructions) . . . 2. SSP.08-03 2 Total cost of section 179 property placed in service (see instructions) . . . . . . . . . W N 3 Threshold cost of section 179 property before reduction in limitation (see instructions) . . . . 3. SSP.08-05 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, enter -0- . . . . . . . . 4 4. SSP.08-07 5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or less, enter -0-. If married filing separately, see instructions . . . . . . . . . . . . . . 5 5. SSP.08-09 6 (a) Description of property (b) Cost (business use only) (c) Elected cost 6. MC.08-22 7. PR.08-03 7 Listed property. Enter the amount from line 29 . . . . . . . . . . . . . . . . . . . . 7 8. PR.08-06.Algo 8 Total elected cost of section 179 property. Add amounts in column (c), lines 6 and 7 . . . . . . . . . 8 9 9 9. PR.08-11.Algo Tentative deduction. Enter the smaller of line 5 or line 8 . . . Carryover of disallowed deduction from line 13 of your 2022 Form 4562 . . . . . . 10 10. PR.08-14 11 Business income limitation. Enter the smaller of business income (not less than zero) or line 5. See instructions 11 11. PR.08-16.Algo Section 179 expense deduction. Add lines 9 and 10, but don't enter more than line 11 . . . . . . . . . . 12 13 Carryover of disallowed deduction to 2024. Add lines 9 and 10, less line 12 . . . . . 13 12. PR.08-18.Algo Note: Don't use Part II or Part III below for listed property. Instead, use Part V. 13. PR.08-19 Part II Special Depreciation Allowance and Other Depreciation (Don't include listed property. See instructions.) 14 Special depreciation allowance for qualified property (other than listed property) placed in service during the tax 14. PR.08-20 year. See instructions . . . . . . . . . . . . . . . . . 14 71,600 X 15. PR.08-21.Algo 15 Property subject to section 168(f)(1) election . . . . . . . 15 16. PR.08-23.Algo 16 Other depreciation (including ACRS) . . . . . . . . . . . 16 17. MC.08-14 Part III MACRS Depreciation (Don't include listed property. See instructions.) Section A Progress: 10/17 items Check My Work Previous Next Assignment Score: 95.53% All work saved. Email Instructor Save and Exit Submit Assignment for GradingCengage Learning x CengageNOWv2 | Online tec x MindTap - Cengage Learnin x | ChatGPT X G Modified Accelerated Cost | X G form 4562 passanger auton x Homework Help - Q&A from x |+ F G 9 v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false S Log In 0 Mail - Klase, Sarah... A Blackboard Learn M Sign In | Connect |... S. Environment and T... myer my.ctstate.edu Home | Microsoft... Students: Find Wh... Free MLA Citation... WP WileyPLUS & ChatGPT P MLA Overview and... > > All Bookmarks Chapter 08 Homework eBook (busmess first) service use basis period Convention deduction 1. SSP.08-01 investment use 179 cost percentage only) 2. SSP.08-03 25 Special depreciation allowance for qualified listed property placed in service during the tax year and used more than 50% in a qualified business use. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 34,800 X 3. SSP.08-05 26 Property used more than 50% in a qualified business use: 4. SSP.08-07 % 90 5. SSP.08-09 Passenger automobile V 05/ 23 55,000 34,800 X 5 yrs. V HY - V 11,000 X 0 6. MC.08-22 % 27 Property used 50% or less in a qualified business use: 7. PR.08-03 S/L 8. PR.08-06.Algo % S/L S/L 9. PR.08-11.Algo 28 Add amounts in column (h), lines 25 through 27. Enter here and on line 21, page 1 . . . . . . . . . . . . . . . . 28 10. PR.08-14 29 Add amounts in column (i), line 26. Enter here and on line 7, page 1 . . . . . 29 11. PR.08-16.Algo Section B-Information on Use of Vehicles Complete this section for vehicles used by a sole proprietor, partner, or other "more than 5% owner," or related person. If you provided vehicles 12. PR.08-18.Algo to your employees, first answer the questions in Section C to see if you meet an exception to completing this section for those vehicles. (a) (b) (c) (d (f) 13. PR.08-19 30 Total business/investment miles driven during Vehicle 1 Vehicle 2 Vehicle 3 Vehicle 4 Vehicle 5 Vehicle 6 14. PR.08-20 the year (don't include commuting miles) . . . 31 Total commuting miles driven during the year 15. PR.08-21.Algo 32 Total other personal (noncommuting) miles driven . . . 16. PR.08-23.Algo 33 Total miles driven during the year. Add lines 30 17. MC.08-14 through 32 . . . . . . . 34 Was the vehicle available for personal use Yes No Yes No Yes No Yes No Yes No Yes No during off-duty hours Progress: 10/17 items Check My Work Previous Next Assignment Score: 95.53% All work saved. Email Instructor Save and Exit Submit Assignment for Grading