Prepare a depreciation schedule for the property

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Reference no: EM131628137

Question: 1. Use the MACRS method to make a depreciation schedule for property that cost $4,800 and was placed in service midyear with a 3-year recovery period. No section 179 deduction was taken.

2. A 5-year property costing $411,000 is placed in service at midyear in 2011. A section 179 deduction of $125,000 is taken for this property and the remaining value is depreciated using MACRS. Prepare a depreciation schedule for the property.

Reference no: EM131628137

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