Question: Just need help with the last calculation on the office building. Casper used the following assets in his Schedule C trade or business in the

Just need help with the last calculation on the office building.

 Just need help with the last calculation on the office building.

Casper used the following assets in his Schedule C trade or business in the tax year 2018. Casper is a new client and unfortunately does not have a copy of his prior year's tax return. He recalls that all of the assets purchased in prior years used MACRS depreciation (no $179 expense or bonus). Casper does not wish to take $179 or bonus depreciation. (Use Table 6A-1 and Table 6A-8) Calculate the current year depreciation allowance for Casper's business. (Round your final answers to the nearest whole dollar amount.) Asset Date Sold 100% 05/15/2018 Computer 1 Computer 2 Printer Computer 3 Equipment Auto Furniture 1 Furniture 2 Office Bldg. Date Purchased 03/12/2015 05/05/2015 08/25/2018 05/25/2018 03/20/2016 05/01/2018 02/12/2016 08/15/2016 04/01/2018 Answer is complete but not entirely correct. Business 2018 Use Method Cost Expense $ 2,900 5yr MACRS $ 334 100% $ 2,600 5yr MACRS $ 150 100% $ 2,400 5yr MACRS $ 480 100% $ 2,800 5yr MACRS $ 560 100% $ 2,500 7yr MACRS $ 437 90% $ 21,800 5yr MACRS $ 3,924 $ 23,500 7yr MACRS $ 2,055 100% 3,300 7yr MACRS $ 577 100% $ 316,800 39 SL $ 6,092 08/25/2018 100%

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