Course accounting basics macrs 40 test and partial year

Assignment Help Taxation

Reference no: EM13455478

MACRS 40% Test and Partial Year Depreciation. Large Corporation acquired and placed in service the following 100% business-use assets. Large did not elect Sec. 179 expensing on any of these properties, and elected out of bonus depreciation for all of them. Truck (light-duty, modified non-personal use) costing $36,000: Placed in service on March 3, 2013 with a 5-year MACRS recovery period. Machinery costing $85,000: Placed in service on November 15, 2013 with a 7-year MACRS recovery period. Land costing $90,000: Placed in service on October 12, 2013. Building costing $280,000: Placed in service on December 4, 2013 with a 39-year MACRS recovery period. a. What is Large's total depreciation deduction in 2013? b. Large Corporation sells the machinery on February 2, 2015 and sells the building on September 18, 2015. What are the adjusted bases of these two assets on the dates of sale (compute accumulated depreciation to date of sale)?

Reference no: EM13455478

Questions Cloud

Project plan hiplease find the attachment file and make : hiplease find the attachment file and make sure that you will read it carefully. do all the steps as required. the

Distinguish between uniform scaling differential scaling : distinguish between uniform scaling differential scaling? or diffrence between uniform scaling differential

Future trends and topics of interest in human resources : the following questions may help you to brainstorm areas of interest related to the health care workforce and human

Help hello can you please see the attached file there are : hello can you please see the attached file. there are two attachments......please see

Course accounting basics macrs 40 test and partial year : macrs 40 test and partial year depreciation. large corporation acquired and placed in service the following 100

Statistic complete assignment with : complete assignment with

Managing innovation integrating technology 1unit-1 case : 1unit-1 case study studyguideattachment page 29-1250 wordsexcluding formatif any question says page no please look at

Knowledge and data warehouse hi there i need to start the : hi there i need to start the assignment for data warehouse where i need to define assignmentyou are required to design

What terms do you think they might ask you about consider : your aunt mary has recently been diagnosed with emphysema. you are going to be attending a family function in the near

User Account

All Pages