Compute depreciation during the useful life of the property

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Reference no: EM132039782

PROBLEM -

A. For the properties listed below compute the depreciation during the useful life of the property. Assume that all property is post-1986 Property and that 15 percent of the cost of residential and commercial properties is assigned to land.

B. Include columns for the applicable AMT depreciation and the accompanying AMT adjustment. You can follow the example given on the attached spread sheet.

TIP: The AMT adjustment for personal property is the difference between the DEPRECIATION taken under MACRS and the amount determined by using 150% declining balance (DB) method under ADS. The AMT adjustment for real property is the difference between the DEPRECIATION taken under MACRS and the amount determined by using strait line (SL) method under ADS.

Note: These are the suggested columns. Make sure that all the columns fit on one page.

Asset Description

Class Life

Date Placed in Service

Cost Basis

Class Life

Recovery Rate

MACRS Accumulated Depreciation

Adjusted Basis

AMT Rate

AMT Recovery Amount

AMT Accumulated Depreciation

AMT Adjustment

AMT Adjusted Basis

Attachment:- Assignment File.rar

Reference no: EM132039782

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