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Compute the total depreciation allowed for the given years

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Question

On April 5, 2018, Kinsey places in service a new automobile that cost $36,000. He does not elect § 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 70% for business and 30% for personal use in each tax year.

Kinsey chooses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset).

Assume the following luxury automobile limitations: year 1: $10,000; year 2: $16,000.

Compute the total depreciation allowed for:

2018:   $
2019:   $

Reference no: EM132314873

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