What is the amount of krol corps depreciation deduction

Assignment Help Accounting Basics

Reference no: EM133662440

Question: Krol Corp., a calendar-year taxpayer, purchased used furniture and fixtures for use in its business and placed the property in service on November 1, Year 9. The furniture and fixtures cost $56,000 and represented Krol's only acquisition of depreciable property during the year. Krol did not elect to expense any part of the cost of the property under Sec. 179 or to use bonus depreciation. What is the amount of Krol Corp.'s depreciation deduction for the furniture and fixtures under the Modified Accelerated Cost Recovery System (MACRS) for Year 9?

Reference no: EM133662440

Questions Cloud

What are the pros and cons of the model : What are the pros and cons of this model? What challenges do you foresee after implementation and how would you resolve them?

What is the federal tax treatment of exempt-interest : What is the federal tax treatment of exempt-interest dividends reported on Form 1099-DIV, Dividends and Distributions? Exempt-interest dividends

Do you believe they are all psychosomatic disorders : Are hypoglycemia, mitral valve prolapse syndrome, fibromyalgia and gluten intolerance. How are they alike and do you believe they are psychosomatic disorders?

How much of tuckers income is considered earned income : Tucker is an unmarried, 29-year-old taxpayer. He received the following income for the year - How much of Tucker's income is considered earned income

What is the amount of krol corps depreciation deduction : What is the amount of Krol Corps depreciation deduction for the furniture and fixtures under the Modified Accelerated Cost Recovery System

What precautions should nurse recommend that ms brooke take : What precautions should the nurse recommend that Ms. Brooke take during the trip to minimize the potential for experiencing adverse effects from the drug?

Create the scope of work : Create the scope of work (SOW) for my assignment. description of the scope product acceptance criteria project deliverables project exclusions project

What are the consequences of organizational performance : What are the consequences of organizational performance and compliance in case of a missing Data Dictionary for databases organization is developing or using?

Destroy the enemy forces : The commander's desired end-state would be to destroy the enemy's forces (defeat mechanism) and then control the area to consolidate the victory

User Account

All Pages