Required information (The following information applies to the questions displayed below.) Lina purchased a new car for use in her business during 2020. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including 5179 expense unless stated otherwise) for the automobile in 2020 and 2021 (Lina doesn't want to take bonus depreciation for 2020 or 2021) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1. Table 2, and Exhibit 10-10.) . The vehicle cost $80,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent. Depreciation deduction Year 2020 2021
Required information (The following information applies to the questions displayed below.) Lina purchased a new car for use in her business during 2020. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including 5179 expense unless stated otherwise) for the automobile in 2020 and 2021 (Lina doesn't want to take bonus depreciation for 2020 or 2021) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1. Table 2, and Exhibit 10-10.) . The vehicle cost $80,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent. Depreciation deduction Year 2020 2021
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 47P
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![Required information
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2020. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
5179 expense unless stated otherwise) for the automobile in 2020 and 2021 (Lina doesn't want to take bonus depreciation
for 2020 or 2021) 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 $80,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Depreciation
deduction
Year
2020
2021](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F03015647-801d-44ad-a265-7fda42587191%2Ff11ce785-036c-41dd-aa3c-1607ef43d739%2Fg0h2zc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2020. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including
5179 expense unless stated otherwise) for the automobile in 2020 and 2021 (Lina doesn't want to take bonus depreciation
for 2020 or 2021) 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 $80,000, and it is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Depreciation
deduction
Year
2020
2021
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