Janice Morgan 2012 Tax Return_T12_For_Records

section a 17 macrs deductions for assets in service

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Unformatted text preview: . . . . . . . . . . . . . . . 17 18. Election under section 168(i)(4) to group assets into one or more general asset accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Note: You may make this election only for assets placed in service during the tax year. See IRS instructions. Sec. B--Assets Placed in Service Using General Depreciation System (GDS) Note: This section is for assets placed in service ONLY during the 2012 tax year. Listed property appears below in Part V, not here. (a) 19a. b. c. d. e. f. g. Date Placed in Service Basis for Depreciation (b) Class of Property (c) 3-year property . . . . . . 5-year property . . . . . . 7-year property . . . . . . 10-year property . . . . . . 15-year property . . . . . . 20-year property . . . . . . 25-year property . . . . . . Period (Recovery Period) (d) 0 0 5.00 7.00 Conven Method tion of Depreciation (e) HY HY (f) Deduction (g) 200DB 200DB 0 0 SL 25.00 h. Residential rental property 27.50 27.50 MM MM SL SL i. Nonresidential real property 39.00 MM MM SL SL Sec. C--Assets Placed in Service Using Alternative Depreciation System (ADS) Note: This section is for assets placed in service ONLY during the 2012 tax year. Listed property appears below in Part V, not here. 20a. Class life . . . . . . . . . . . b. 12-year . . . . . . . . . . . . . c. 40-year . . . . . . . . . . . . . 12.00 40.00 MM SL SL SL PART IV SUMMARY Note: If the totals here are not what you expect, be sure that the right Form and Copy # appear at the top of this form. 21. Listed property. Amount from line 28 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 22. Total (lines 12, 14 - 17, and 19 - 21) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Line 22 carries to Sched C, Rentals & Rylty Wkst, Sched F, etc. 0 57,000 23. Portion of basis attributable to sec 263A costs . . . . . . . . . . . . . . . 23 Note: If you're subject to the uniform capitalization rules of Sec 263A, ente...
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