Question: Please create excel sheet A . For the properties listed below compute the depreciation taken over the useful life of the property. Assume that all
| Please create excel sheet A. For the properties listed below compute the depreciation taken over | |||
| the useful life of the property. Assume that all property is post-1986 | |||
| property. | |||
| B. Include columns for the applicable AMT depreciation and the determined by using strait line (SL) method under ADS. | |||
| PROPERTY | COST | PLACED IN SERVICE | |
| Tractor unit | 19,000 | 15 Feb | |
| Race horse over 2 years old | 54,000 | 12 May | |
| Computer | 4,000 | 25 Nov | |
| Luxury Automobile | 67,800 | 15 May | |
| General Purpose Truck | 25,000 | 13 Oct | |
| Office Desk | 7,300 | 5 Jan | |
| Office Safe | 4,600 | 7 Sept | |
| Light Boat | 69,700 | 27 July | |
| Petroleum Refining Instalation | 154,000 | 15 June | |
| Residental Rental Building | 10,790,000 | 26 April | |
| Nonresidental Rental Building | 13,000,000 | 20 Nov | |
| Abbreviation: | |||
| HY = half-year | |||
| MQ = mid-quarter | |||
| MM = mid-month | |||
| SL - strait line | |||
| DB - declining balance | |||
| Suggested Columns | |||
| Asset Description | |||
| Date Placed in Service | |||
| Cost Basis | |||
| Recovery Rate | |||
| MACRS Recovery Amount | |||
| MACRS Accumulated Depreciation | |||
| Adjusted Basis | |||
| AMT Rate | |||
| AMT Recovery Amount | |||
| AMT Accumulated Depreciation | |||
| AMT Adjustment | |||
| AMT Adjusted Basis | |||
please help a really need help
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