D computer system 5 yr xi add up all expenses and put

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d. Computer System- 5 yr. xi. Add up all expenses and put them in Schedule C, line 28
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xii. Line 28- line 7 all expenses xiii. Subtract line 7-line 28= line 29 and line 31 1. Put this number on 1040 on line 12 f. Form 4562 i. Line 1-Max Amount- $500,000 ii. Line 2- anything but land and building added up iii. Line 3-$500,000 (What adds up to 500,000 take that, if not just take what you can) iv. Line 6- State what you could reduce and write it down v. Line 8- add up- $500,000 vi. Line 9- $500,000 vii. Line 12- $500,000 viii. 19C-only claim what you didn’t reduce 1. section c- how much you bought it for 2. convention- more than half in last quarter- mid quarter a. If not, half year 3. Method- MACRS ix. 19i- Office Building month and year placed in service 1. basis given 2. use nonresidential table to solve x. Line 22- add everything up 1. This value goes on Schedule C (part 2 expense, line 13) xi.
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xii. Gift- xiii. If the gifter is alive while giving property, the property is worth the amount that it was bought for. xiv. If the gifter is passed and passes down property in their will, the property is worth the amount it is worth today. xv.
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