a. Tamika does not want to take §179 expense and she elects out of bonus depreciation. Description (1) Original basis of auto (2) MACRS depreciation rate (3) Full MACRS depreciation (4) Maximum auto depreciation Depreciation deduction for year 2022 Amount 2023 Amount $ $ 0 $ 0 $ 0 0 Tamika Meer purchased a new car for use in her business during 2022 for $75,000. The auto was the only business asset she purchased during the year, and her business was very profitable. Calculate Tamika's maximum depreciation deductions for the automobile in 2022 and 2023 under the following scenarios:
a. Tamika does not want to take §179 expense and she elects out of bonus depreciation. Description (1) Original basis of auto (2) MACRS depreciation rate (3) Full MACRS depreciation (4) Maximum auto depreciation Depreciation deduction for year 2022 Amount 2023 Amount $ $ 0 $ 0 $ 0 0 Tamika Meer purchased a new car for use in her business during 2022 for $75,000. The auto was the only business asset she purchased during the year, and her business was very profitable. Calculate Tamika's maximum depreciation deductions for the automobile in 2022 and 2023 under the following scenarios:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:a. Tamika does not want to take §179 expense and she elects out of bonus depreciation.
Description
(1) Original basis of auto
(2) MACRS depreciation rate
(3) Full MACRS depreciation
(4) Maximum auto depreciation
Depreciation deduction for year
2022 Amount 2023 Amount
$
$
0
$
0 $
0
0
Transcribed Image Text:Tamika Meer purchased a new car for use in her business during 2022 for $75,000. The auto was the only business asset
she purchased during the year, and her business was very profitable. Calculate Tamika's maximum depreciation
deductions for the automobile in 2022 and 2023 under the following scenarios:
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