Lina purchased a new car for use in her business during 2021. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2021 and 2022 (Lina doesn't want to take bonus depreciation for 2021 or 2022) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) f. The vehicle cost $92,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent. Depreciation deduction Year 2021 2022 2$ 21,056
Lina purchased a new car for use in her business during 2021. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2021 and 2022 (Lina doesn't want to take bonus depreciation for 2021 or 2022) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.) f. The vehicle cost $92,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent. Depreciation deduction Year 2021 2022 2$ 21,056
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 52P
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Transcribed Image Text:Lina purchased a new car for use in her business during 2021. The auto was the only business asset she purchased during
the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including §179
expense unless stated otherwise) for the automobile in 2021 and 2022 (Lina doesn't want to take bonus depreciation for
2021 or 2022) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2,
and Exhibit 10-10.)
f. The vehicle cost $92,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Depreciation
deduction
Year
2021
2022
$
21,056
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