Solved

Determine the MACRS Cost Recovery Deductions for 2016 and 2017

Question 96

Essay

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. 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)

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) 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)

Correct Answer:

verifed

Verified

blured image
Total 2016 Breeding hogs Cost Recover...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents