Janice Morgan 2012 Tax Return_T12_For_Records

portion of original basis for land

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Unformatted text preview: i. Total original basis (cost) when property was acquired . . . . . . . . . . . . . . . Portion of original basis for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Original basis not for land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40,000 40,000 b. Section 179 amount: For assets placed in service before 2012: Enter the Sec 179 i. amount (if any) for year the asset was placed in service . . . . . . . . . . . . . . . ii. For assets placed in service in 2012: Maximum section 179 amount before taking (a) business percentage into account (enter manually if qualified empowerment zone property or qualified section 179 disaster assistance 500,000 property) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maximum allowable section 179 amount, after (b) 40,000 taking business percentage into account . . . . . . . . . . . 40,000 Section 179 claimed this year . . . . . . . . . . . . . . . . . . . . (c) c. Deduction for removal of barriers to disabled and elderly; disabled access credit; enhanced oil recovery credit; basis adjustment to investment credit property under sec. 50(c) . . . . . . . . . . . . . . . . . . d. Basis after Sec. 179: Original Cost * (Bus % + Investment %), minus section 179 and disabled access, etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 e. Bonus depreciation for 2012: 100%/50%/30% of line d . . . . . . . . . . . . . . . . . . . . f. Prior year bonus depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0 g. Depreciable basis: Original Cost * (Bus % + Investment %), minus Sec. 179, disabled access, etc., bonus depreciation . . . . . . . . . . . . . . . . . 0 Note: See the IRS instructions to Form 4562 and IRS Publication 946 for information about when you may need to "recapture" your Section 179 deduction or bonus depreciation. 9. MISCELLANEOUS QUESTIONS a. Check here to elect under section 168(i)(4) to gro...
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This document was uploaded on 02/09/2014.

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