Lina purchased a new car for use in her business during 2023. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2023 and 2024 (Lina doesn't want to take bonus depreciation for 2023 or 2024) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.)
Lina purchased a new car for use in her business during 2023. The auto was the only business asset she purchased during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions (including $179 expense unless stated otherwise) for the automobile in 2023 and 2024 (Lina doesn't want to take bonus depreciation for 2023 or 2024) in the following alternative scenarios (assuming half-year convention for all): (Use MACRS Table 1, Table 2, and Exhibit 10-10.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2023. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions
(including §179 expense unless stated otherwise) for the automobile in 2023 and 2024 (Lina doesn't want to take
bonus depreciation for 2023 or 2024) in the following alternative scenarios (assuming half-year convention for all):
(Use MACRS Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part f (Algo)
f. The vehicle cost $81,000, and is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Depreciation
Year
deduction
2023
2024](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F152d606a-19d5-42cc-b16b-d3ab7c31caac%2F211b4f38-bf62-41f7-bb3b-6c67ebe667d9%2F4bnwa3b_processed.png&w=3840&q=75)
Transcribed Image Text:Problem 10-67 (LO 10-3) (Algo)
[The following information applies to the questions displayed below.]
Lina purchased a new car for use in her business during 2023. The auto was the only business asset she purchased
during the year, and her business was extremely profitable. Calculate her maximum depreciation deductions
(including §179 expense unless stated otherwise) for the automobile in 2023 and 2024 (Lina doesn't want to take
bonus depreciation for 2023 or 2024) in the following alternative scenarios (assuming half-year convention for all):
(Use MACRS Table 1, Table 2, and Exhibit 10-10.)
Problem 10-67 Part f (Algo)
f. The vehicle cost $81,000, and is an SUV that weighs 6,500 pounds. Business use was 100 percent.
Depreciation
Year
deduction
2023
2024
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