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Calculate Williams maximum depreciation deduction

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Reference no: EM132676252

Problem - During 2019, William purchases the following capital assets for use in his catering business:

New passenger automobile (September 30) $54,000

Baking equipment (June 30) 7,000

Assume that William decides to use the election to expense on the baking equipment (and has adequate taxable income to cover the deduction) but not on the automobile, and he also uses the MACRS accelerated method to calculate depreciation but elects out of bonus depreciation. Calculate William's maximum depreciation deduction for 2019, assuming he uses the automobile 100 percent in his business.

Reference no: EM132676252

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