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On June 15, 2006, Mr. Grime purchased fixtures fo...

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On June 15, 2006, Mr. Grime purchased fixtures for the store. The current depreciation deduction for the fixtures is $536. Mr. Grime bought a brick building on July 1, 1998, $75,000 of the price being allocable to the building for depreciation purposes. No capital improvements were made. Depreciation on the building is computed by using the MACRS method. The allowable MACRS deduction for 2011 would be calculated at the rate of 2.564%. How would this be shown on tax form 4562? Thank you

 

Paper#5133 | Written in 18-Jul-2015

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