D. George utilized the following assets in his landscaping business: Description of Property: Date Placed Adjusted...

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D. George utilized the following assets in his landscaping business: Description of Property: Date Placed Adjusted Basis when Business into Service: Placed into Service: Use: Landscaping 5/21/19 $40,000 100% equipment Computer system 7/22/20 3,200 100% Computer printer 7/25/21 1,000 100% Office furniture 6/20/22 3,000 100% All the assets listed above were purchased new by George on the date they were placed into service. Due to technical requirements, George was not able to elect 179 treatment for any year prior to 2023. All assets were depreciated under accelerated MACRS prior to 2023. E. George drove a 2008 Chevrolet pick-up truck which he placed into service on January 2, 2019. The truck cost George $12,800. The truck weighs 6,800 pounds. George logged 22,000 business related miles in his pick-up truck. He also logged 20,000 non-business related miles. Written documentation exists justifying the business-use of the pick-up truck. George has always used the standard mileage method. The truck has never been depreciated under the MACRS method. D. George utilized the following assets in his landscaping business: Description of Property: Date Placed Adjusted Basis when Business into Service: Placed into Service: Use: Landscaping 5/21/19 $40,000 100% equipment Computer system 7/22/20 3,200 100% Computer printer 7/25/21 1,000 100% Office furniture 6/20/22 3,000 100% All the assets listed above were purchased new by George on the date they were placed into service. Due to technical requirements, George was not able to elect 179 treatment for any year prior to 2023. All assets were depreciated under accelerated MACRS prior to 2023. E. George drove a 2008 Chevrolet pick-up truck which he placed into service on January 2, 2019. The truck cost George $12,800. The truck weighs 6,800 pounds. George logged 22,000 business related miles in his pick-up truck. He also logged 20,000 non-business related miles. Written documentation exists justifying the business-use of the pick-up truck. George has always used the standard mileage method. The truck has never been depreciated under the MACRS method.

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Answer Assets Used in Landscaping Business Landscaping Equipment Date Placed into Service 52119 Adju... View the full answer