Dylan paid $640 for a new refrigerator he placed in service in his rental house in May 2018. He did not take the special depreciation allowance and is depreciating the refrigerator using regular MACRS and the half-year convention. Dylan sold the rental house with the refrigerator in March 2019. How much will he deduct for depreciation on the refrigerator in 2019?
a.$0
b.$64
c. $102
d. $204
(d) 204
year | basis | % | depreciation expense | accumulated depreciation | ending B.V | M | |||
2018 | $640 | 16.67 | 107 | 107 | 533 | SL | |||
2019 | $640 | 33.33 | 213 | 320 | 320 | SL |
please note the rounding differences occurs due to rate of depreciation.
Dylan paid $640 for a new refrigerator he placed in service in his rental house in...
Test. Tax Analyst Certification Test (2019) Schedule E Question 36 of 75 Duane paid $550 for a new washing machine he placed in service in his rental house in May 2017 He did not take the special depreciation allowance and is depreciating the machine using regular MACRS and the half-year convention Duane sold the mental house with the washing machine in March 2018 How much will he deduct for depreciation on the m achine 2017 50 555 5178 Mark for...
when should the alternative minimum tax nol be computed duane paid 500 fir a new washing machime he place in service in his rental house in may 2017 he did not take the special depreciation allowance and is depreciating the machine using regular macrs and the half year convention
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January 2009 Julius purchased for a hundred and ten thousand a rental house which he made Italy placed in service. The purchase price included $10,000 for the land in August of 2018, he decided to sell the house to the tenant how much depreciation may he deduct in 2018
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Problem 8-46 (Algorithmic) (LO. 4) On March 30, 2018, Leo purchased and placed in service a new car that cost $64,200. The business use percentage for the car is always 100%. He does not take the additional first-year depreciation or any 179. If required, round your answers to the nearest dollar. Click here to access the depreciation table of the textbook. Click here to access the limits for certain automobiles. a. What MACRS Convention applies to the new car? Half-year...
In April of 2019, Jack purchased and placed in service $70,000 of automobiles (5-year class life) for his business. In August of 2019, he purchased and placed in service $40,000 of trucks (5-year class life) for his business. In November of 2019, he purchased and placed in service $90,000 of furniture (7-year class life) for his business. These are the only assets placed in service during the year. His taxable income (before the 179 deduction) for 2019 is $50,000. Jack...