Below are four asset purchases made in 2018. Asset Cost Date Office Table $1,000 January 1, Office Desk 1,500 September 29 File Cabinet 2,000 October 15 Computer 6,000 December 31 What is the maximum 2018 Section 179 deduction for these purchases? How did you arrive at your answer?
Federal Income Tax
Table- Half-Year Convention
200% Declining Balance
|
Year |
3 Year |
5 Year |
7 Year |
|
|
1 |
33.33% |
20.00% |
14.29% |
|
|
2 |
44.45% |
32.00% |
24.49% |
|
|
3 |
14.81% |
19.20% |
17.49% |
|
|
4 |
7.41% |
11.52% |
12.49% |
|
|
5 |
|
11.52% |
8.93% |
|
|
|
|
|
|
|
|
6 |
|
5.76% |
8.92% |
|
|
7 |
|
|
8.93% |
|
|
8 |
|
|
4.46% |
|
- Below are four asset purchases made in 2018.
Asset Cost Date
Office Table $1,000 January 1,
Office Desk 1,500 September 29
File Cabinet 2,000 October 15
Computer 6,000 December 31
What is the maximum 2018 Section 179 deduction for these purchases? How did you arrive at your answer?
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