Determine total depreciation deduction

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Reference no: EM131290236

Sam the Butcher acquires the following new five year class property in 2016. Use $500,000 as the maximum 179 amount:

Assset Acquistion Date Cost

A January 10 $106,000

B July 16 $70,000

C November 20 $450,000

Sam elects 179 for Asset B and C only. Sam's taxable income from the butcher shop would not create a limitation for purposes of the 179 deduction. Sam elects not to take the additional first year depreciation.

1. Determine Sam's depreciation deduction for each asset for 2016.

2. Determine Sam's total depreciation deduction for 2016.

Reference no: EM131290236

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