Problem 1 Calendar Year

Date Acquired	Description	Type	Basis
March 7, 2013	Office Building		$265,490
July 1, 2014	Office Equipment		$14,500
August 3, 2015	Delivery Truck (Light Duty)		$37,475
February 10, 2016	Office Furniture		$12,900
August 12, 2016	Computer		$6,400
April 10, 2017	Office Furniture		$12,400
October 14, 2020	Office Equipment		$26,501
November 7, 2020	Computers		$16,950

Compute the MACRS depreciation for 2020.

• Create an individual tax return naming yourself as the taxpayer.
• Use whatever filing status, dependents and, address you wish. Make reasonable assumptions.
• Assume you own and operate your business as a sole proprietorship with gross revenue of $250,000.
• Assume there was no election to expense under Section 179
• Assume the assets shown are the total assets placed in service during the year