Chapter 10 Comprehensive Assignment

Given the information provided below, calculate the 2017 depreciation expense that would be reported on the client's 2017 tax return. You can assume there were no other asset purchases, the client is a Single Member LLC, and has $40,000 in Net Income before any depreciation. Calculate both MACRS and Section 179 that this client qualifies to deduct without generating a Section 179 Carryover.

Year	Purchase date	Useful Life	Purchase Price
2017	8/30/2017	39	$375,000
2017	3/1/2017	5	$15,000
2017	4/1/2017	7	$80,000
2017	6/1/2017	5	$28,000
2017	12/1/2017	5	$40,000
2016	3/15/2016	5	20,000
2016	4/1/2016	5	10,000
2016	6/15/2016	5	50,000
2016	7/15/2016	7	10,000
2016	11/10/2016	7	75,000
2015	2/15/2015	7	10,000
2015	6/15/2015	5	12,000
2015	8/15/2015	5	15,000
2015	12/15/2015	7	7,000
2015	12/31/2015	7	10,000