Requlred Information iThe following information apples to the questions displayed below J Karane Enterprises, a calendar-year manufacturer based In College Station, Texas, began business In 2023. In the process of setting up the business, Karane has acquired various types of assets. Below Is a list of assets acquired during 2023: Date Placed in Asset cost Service Office furniture $ 158,000 92/03 Machinery 1,568,008 e7/22 Used delivery truck* 48,808 28/17 \"Not considered a luxury automobile. During 2023, Karane was very successful (and had no $179 limitations) and decided to acquire more assets In 2024 to Increase Its production capacity. These are the assets acquired during 2024: Date Placed in asset cost service Computers and information system 3 400,202 @3/31 Luxury auto* 28, 88a 85/26 Assembly equipment 1,208,202 63/15 Storage building 78, BA 11/13 \"Used 100 percent for business purposes. Karane generated taxable Income In 2024 of $1,732,500 for purposes of computing the $179 Note: Leave no answer blank. Enter zero If applicable. Input all the values as positive numbers. Form 4562 Depreciation and Amortization DMB No. 1545-0172 (Including Information on Listed Property) 2023 Department of the Treasury Attach to your tax return. Intomal Revenue Service Go to www.Irs.gowForm4682 for Instructions and the latest Information. Boquance No. 179 Namofs) shown on retum Business or activity to which this form relates Karane Enterprises Part I Election To Expense Certain Property Under Section 179 Note: If you have any Nated property, complete Part V before you complete Part _ 1 Maximum amount [soo instructions) 1.600,000 2 Total cost of section 179 property placed in service (son instructions] 1.800,000 3 Threshold cost of section 179 property before reduction in limitation [see instructions) 4 Reduction in limitation. Subtract line 3 from line 2. If zero or less, anter O .600,000 5 Dollar limitation for tax year. Subtract line 4 from line 1. If zero or loss, enter -0-. I married fling separately, son instructions (8) Description of property (b) Cost (business use only 19) Elected cost Computers and information systems Luxury auto Listed property. Enter the amount from line 29 B Total elected most of section 179 property. Add amounts in column (c], lines 6 and 7 9 Tentative deduction. Enter the smaller of lina S or Ina 8 10 Carryover of disallowed deduction from line 13 of your 2022 Form 4562 11 Business income Iimitation. Enfar the smaller of business income (not less than zam) or line 5. see instructions. 12 Section 179 expanse deduction Add Ines 9 and 10, but don't enter more than ling 11 13 Carryover of disallowed deduction to 2024. Add lines 9 and 10, less lina 12 P Note: Do not use Part II or Part IN below for Asted property. Instead, use Part V Part II Special Depreciation Allowance and Other Depreciation "Don't include listed property. see instructions.) 14 Special depreciation allowance for qualified property (other than listed property] placed in service during the tax year Son instructions 14 15 Property subject to section 168(T (1] alaction 16 16 Other depreciation [including ACRS) 18 Part III MACRS Depreciation Don't include listed property. See instructions. Section A 17 MAGRS deductions for assets placed in service in tax years beginning before 2023 17 18 If you are alociing to group any assets placed in service during the tax your into one or more general asset accounts, check Section B-Assets Placed In Service During 2023 Tax Year Using the General Depreciation System [b) Month and your depreciation (a) Classification of property [e) Convention [gl Depreciation placed in service (business investment (d) Finooovery pariod (f) Method use only Son deduction Instructional 151 3-your property b 5-year property 400,000 5 year DDB c T-your property 160,000 7 year DDB 1 10-year property 15-your property 20-year property 25-ypar property 25 years 27.5 years h Residential rental property MM SIL 27.5 years MM 39 years SIL i Nonresidential mal property Section C-Assets Placed In Service During 2023 Tax Year Weing the Alternative Depreciation System 201 Class Ho 12-year 12 years 0 30-year 30 years MM SIL d 40-year 40 years SIL Part IV Summary (See instructions) 21 Listed property. Enter amount from lina 28 21 22 Total. Add amounts from line 12, lines 14 through 17, lines 19 and 20 in column (g), and line 21. Enter here and on the appropriate lines of your retum. Partnerships and & corporations-see instructions 22 23 For assets shown above and placed in service during the current year, enter the portion of the basis attributable to section 263A costs For Paperwork Reduction Aot Notion, can separate Instructions. Cat. No. 12906N Form 4682 (2023) THIS FORM IS A SIMULATION OF AN OFFICIAL U. B. TAX FORM. IT IS NOT THE OFFICIAL FORM ITSELF. DO NOT USE THIS FORM FOR TAX FILING S OR FOR ANY PURPOSE OTHER THAN EDUCATIONAL. # 2024 MoGrow-HIll Education