Chapter 10 Fall 11

Chapter 10 Fall 11 - Burkett Tax I Chapter 10 Personal...

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Unformatted text preview: Burkett Tax I Chapter 10 Personal Property Example (page 1 & 2) 1. Compute maximum deduction for 2011 & 2012 for $100,000, 5 year recovery property purchased on May 5, 2011 if TP elects out of bonus and does not choose to use Section 179/Immediate Expensing. 2. Compute 1 using table A 10-2 on page 47 if TP elects out of bonus and does not choose to use Section 179/Immediate Expensing. 3. Compute 1 assuming it was purchased on 12/31/11 and it was the only personal property placed in service in 2011 if TP elects out of bonus and does not choose to use Section 179/Immediate Expensing. 4. Compute 3 using the table A10-6 on page 51 if TP elects out of bonus and does not choose to use Section 179/Immediate Expensing. 1 Burkett Tax I Chapter 10 Personal Property Example (contd) 5. What other options are available and how are they chosen? 6. Compute minimum deduction for 2011 & 2012 for $100,000, 5 year recovery property with an Alternative Depreciation System (ADS) recovery period of 7 years purchased on May 5, 2011 if TP elects...
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Chapter 10 Fall 11 - Burkett Tax I Chapter 10 Personal...

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