Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. FMV at Time Purchase Converted to Asset Price Business Use Computer $ 6,900 $ 5,200 Printer 4,700 4,550 Desk 5,600 5,400 File cabinet 4,600 4,625 Using the above information, what is the depreciable basis that Brittany should use in her business for each asset? ASSET DEPRECIABLE BASIS Computer Printer Desk File Cabinet
Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business. FMV at Time Purchase Converted to Asset Price Business Use Computer $ 6,900 $ 5,200 Printer 4,700 4,550 Desk 5,600 5,400 File cabinet 4,600 4,625 Using the above information, what is the depreciable basis that Brittany should use in her business for each asset? ASSET DEPRECIABLE BASIS Computer Printer Desk File Cabinet
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 21CE
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Brittany started a law practice as a sole proprietor. She owned a computer, printer, desk, and file cabinet she purchased during law school (several years ago) that she is planning to use in her business.
FMV at Time | ||||
Purchase | Converted to | |||
Asset | Price | Business Use | ||
Computer | $ | 6,900 | $ | 5,200 |
Printer | 4,700 | 4,550 | ||
Desk | 5,600 | 5,400 | ||
File cabinet | 4,600 | 4,625 | ||
|
Using the above information, what is the
ASSET DEPRECIABLE BASIS
Computer
Printer
Desk
File Cabinet
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