Determine the MACRS cost recovery deductions for 2016 and 2017 on the following assets that were purchased for use in a farming business on July 15,2016.The taxpayer does not wish to use the Section 179 election.
a.Breeding hogs depreciation:Total 2016 Breeding hogs Cost Recovery Deduction (show your calculations)Total 2017 Breeding hogs Cost Recovery Deduction (show your calculations)
b.Dairy cattle depreciation:Total 2016 Dairy Cattle Cost Recovery Deduction (show your calculations)Total 2017 Dairy Cattle Cost Recovery Deduction (show your calculations)
c.Tractor depreciation:Total 2016 Tractor Cost Recovery Deduction (show your calculations)Total 2017 Tractor Cost Recovery Deduction (show your calculations)
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