TaxAccSol_Chapter 8

TaxAccSol_Chapter 8 - CHAPTER 8 DEPRECIATION, COST...

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CHAPTER 8 DEPRECIATION, COST RECOVERY, AMORTIZATION, AND DEPLETION SOLUTIONS TO PROBLEM MATERIALS Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 1 Cost recovery: eligibility Unchanged 1 2 Cost recovery ‘‘allowable’’ Unchanged 2 3 Cost recovery of land improvements Unchanged 3 4 Eligibility for cost recovery Unchanged 4 5 Cost recovery of land improvements Unchanged 5 6 Half-year convention Unchanged 6 7 Half-year convention: year of sale Unchanged 7 8 Mid-quarter convention: determining whether it applies Unchanged 8 9 Mid-quarter convention: year of sale Unchanged 9 10 Mid-month convention Unchanged 10 11 Straight-line method: election Unchanged 11 12 Straight-line method: applicable convention Unchanged 12 13 Farm property New 14 Farm property New 15 Leasehold property owned by lessor New 16 Leasehold property owned by lessee New 17 Leasehold property owned by lessee New 18 Section 179 expensing: production of income property Unchanged 13 19 Section 179 expensing: effect on MACRS cost recovery Unchanged 14 20 Section 179 expensing: carryforward Unchanged 15 21 Section 179 expensing: taxable income limitation Unchanged 16 22 Inventory versus in a trade or business Unchanged 17 23 Listed property: passenger auto Unchanged 18 24 Listed property: passenger auto and cost recovery limit Unchanged 19 25 Leased passenger automobiles and lease inclusion amount Unchanged 20 26 Amortization: § 197 intangibles Unchanged 21 8-1
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Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 27 Covenant not to compete Unchanged 22 28 Start-up expenditures Unchanged 23 29 Start-up expenditures Unchanged 24 30 Cost depletion Unchanged 25 *31 Cost recovery allowed and allowable Unchanged 26 32 Personal residence converted to rental property Modified 27 *33 MACRS for personalty Modified 28 *34 MACRS for personalty Unchanged 29 *35 MACRS for personalty: half-year convention Unchanged 30 *36 MACRS for personalty: mid-quarter convention Unchanged 31 *37 MACRS for realty Unchanged 32 *38 MACRS for realty Unchanged 33 *39 MACRS for realty Unchanged 34 *40 MACRS for realty Unchanged 35 41 Farm property New 42 Farm property New 43 Leasehold improvement property New 44 Leasehold improvement property New *45 MACRS and § 179 expensing Modified 36 *46 MACRS and § 179 expensing Unchanged 38 *47 MACRS for personalty: mid-quarter convention and § 179 expensing Unchanged 39 *48 Listed property and § 179 deduction: not passenger automobile Unchanged 41 *49 Listed property: luxury auto Unchanged 42 *50 Listed property: luxury auto Unchanged 43 *51 Listed property: not passenger automobile Unchanged 44 *52 Listed property: recapture and luxury auto New *53 Listed property Unchanged 46 *54 Listed property: lease versus purchase for luxury auto Modified 49 55 Alternative minimum tax cost recovery Unchanged 51 *56 Alternative depreciation system versus MACRS Unchanged 52 *57 Amortization of goodwill versus MACRS on building Unchanged 53 *58 Start-up expenditures Unchanged 54 *59 Start-up expenditures Unchanged 55 *60 Depletion: cost versus percentage Unchanged 56 *61
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This note was uploaded on 04/23/2008 for the course ACC 343 taught by Professor Dr.purcell during the Spring '08 term at Creighton.

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TaxAccSol_Chapter 8 - CHAPTER 8 DEPRECIATION, COST...

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