Check While completing undergraduate school work in information systems, Dallin Bourne and Michael Banks decided to start a technology support company called eSys Answers. During year 1, they bought the following assets and incurred the following start-up fees Year 1 Assets Computers (5 year office equipment (7-year) Furniture (7-year) Start-up costs Purchase Date October 30, 41 October 30, y1 October 30, October 30, V1 Basis $ 15.000 10,000 3.000 17.000 In April of year 2 they decided to purchase a customer list from a company providing virtually the same services, started by fellow information systems students preparing to graduate The customer ist cost $10,000 and the sale was completed on April 30. During their summer break, Dallin and Michael passed on internship opportunities in an attempt to really grow their business into something they could do full-time after graduation. In the summer, they purchased a small van (for transportation not considered a luxury auto) and a pinball machine to help attract new employees). They bought the van on June 15, Y2 for $15,000 and spent $3,000 getting it ready to put into service. The pinball machine cost $4,000 and was placed in service on July 1 Y2 Year 2 Assets Van Pinball machine 7-year) Custom list Purchase Date June 15, Y July 1, 2 April 30, 2 Base $ 10,000 4,000 10,000 Check my worlu Required information Form 4562 PG Form 4562 PG 2 Form 4562 Page 1 and 2. Form 4562 Depreciation and Amortization (Including Information on Listed Property) OMB No 1545 0172 Department of the Treaty Intemal Revenue Service (90 Name() shown on refum 2018 Attach to your tax return. Go to www.in.guifo.642 for instructions and the latest information Business or activity to which the formats Attachment Sequence No 179 Menting Part Election To Expense Certain Property Under Section 179 Note: If you have any lated property.complete Put before you complete Party 1 Maximum amounts who 2 Total cost of section to placed in service The cost of sector 17 property before reduction on see Recent Suomi ole Sortion for taxe Stinere er solchone . Des of property Choose rece Loty Enhamento 29 Check my Required information Form 4562 PG Form 4562 PG 2 Form 4562 (2018) Page 2 Part V Listed Property (Include automobiles, certain the vehicles, certain craft and properly used for entertainment recreation of amusement) Note: For any vehicle for which you are the standard agere ordeducting less expense complete only 2 column wrough Section of Section and Section Section A-Depreciation and Other Information (Caution. See the instructions for limits for passenger automobiles) 24 Do you have evidence to support the business investment une med Yes No 20 Yes" is the evidence in NO Type of property Date placed in c) (6) Basis for depreciation Business Cost or the de vehicles intervie Depreciation my D Elected Recovery use percentage busnesvestansen od Methodica vention deduct 179 coul 25 Special depreciation allowance for qualified Inted property placed in Service during the eyes and send more than on biediens section 26 Proyed more than 50 in audu 27 Property od 50 or less in qualified business SIL