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Author Question: For real property placed in service after 1986, depreciation under the MACRS system is calculated using the (Read 68 times)

Jramos095

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Question 1

Fariq purchases and places in service in 2016 personal property costing $2,031,000. The property does not qualify for bonus depreciation. What is the maximum Sec. 179 deduction that Fariq can deduct, ignoring any taxable income limitation?
◦ $500,000
◦ $0
◦ $479,000
◦ $469,000

Question 2

For real property placed in service after 1986, depreciation under the MACRS system is calculated using the
◦ straight-line method and a half-year convention in the year of acquisition and in the year of disposition.
◦ straight-line method and a mid-month convention in the year of acquisition and in the year of disposition.
◦ 200% DB method and a mid-month convention in the year of acquisition and in the year of disposition.
◦ 200% DB method and a half-year convention in the year of acquisition and in the year of disposition.


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Marked as best answer by Jramos095 on Sep 13, 2020

shailee

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Jramos095

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Reply 2 on: Sep 13, 2020
:D TYSM


anyusername12131

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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