A. For the properties listed below compute the depreciation taken during the useful life of the property for all depreciable years assuming the half year convention applies. Assume that all property is post-1986 property.
B. Include columns for the applicable AMT depreciation along with the AMT adjustment.
Suggested Columns
Asset Description
Date Placed in Service
Cost Basis
Recovery Rate
MACRS Recovery Amount
MACRS Accumulated
Depreciation
Adjusted Basis
AMT Rate
Homework Answers
| Asset Description | Date placed in service | Cost basis |
Recovery rate =(200%/recovery period) |
MACRS recovery amount | MACRS Accumulated |
Depreciation (8%) |
Adjusted Basis (MACRS recovery-Depreciation) |
AMT Rate |
| Tractor Unit | 15Feb | 19000 | 66.67% | 12667.3 | 0 | 1520 | 11147.3 | 18.5% |
| Race Horse | 12 Feb | 54000 | 66.67% | 36001.8 | 4320 | 31681.8 | 18.5% | |
| Computer | 25 Nov | 4000 | 40% | 1600 | 320 | 1280 | 18.5% | |
| Luxury Automobile | 15 May | 67800 | - | - | - | - | -18.5% | |
| General Purpose truck | 13 Oct | 25000 | 40% | 10000 | 2000 | 8000 | 18.5% | |
| Office desk | 5 Jan | 7300 | 28.57% | 2085.61 | 584 | 1501.61 | 18.5% | |
| Office safe | 7 Sept | 4600 | 28.57% | 1314.22 | 368 | 946.22 | 18.5% | |
| Light Boat | 27th July | 69700 | 20% | 13940 | 5576 | 8364 | 18.5% | |
| Petroleum refining installation | 15 June | 154000 | 20% | 30800 | 12320 | 18480 | 18.5% | |
| Residential rental | 26 April | 10790000 | 7.27% | 784433 | 863200 | -78767 | 18.5% | |
| Non-residential rental | 20 Nov | 13000000 | 5.06% | 657800 | 1040000 | -382200 | 18.5% |
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how to do depreciation? Can you please give me one example of this of where putting the stuff at and i can do the rest. I am very confuse. V Assets Acquired in 2017 (This section may be helpful...
how to do depreciation? Can you please give me one example of
this of where putting the stuff at and i can do the rest. I am very
confuse.
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