Janice Morgan 2012 Tax Return_T12_For_Records

50c d basis after sec

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Unformatted text preview: . 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 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. The election is available only for assets that are used 100% for business or investment. If you make this election, you will need to treat (for purposes of depreciation) the assets in each general asset account as a single asset. b. Number of years over which this asset is being depreciated. (We calculate this entry if you're using regular ACRS or MACRS.) . . . . . . . . . . . . . . . . . . . . 7.00 c. If this asset is eligible, do you elect the (slower) 150% declining balance method (applies for MACRS; usually leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . d. If this asset is eligible, do you elect the (slower) straight line method (applies for MACRS; usually leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . e. Does the "mid-quarter" convention apply? (We calculate this for assets placed in service in 2012) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . N...
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This document was uploaded on 02/09/2014.

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