[Anonymous]

So I was clicking through a sample test for REG provided by the AICPA and one of the sims doesn’t make sense. I was fairly straightforward and gave 3 classes of property with their respective basis’

1: office furniture: $10,000

2: Pickup Truck 100% business use: $15000

3: Computer and printers: $5000

all it wanted you to do was calculate year 1 depreciation without respect to sec. 179 or bonus depreciation and gave the following as the correct values: Basically they just want you to know the classes of each (7yr=office furniture 5 yr= auto and office equipment)

1: office furniture: $1429

2: Pickup Truck 100% business use: $3000

3: Computer and printers: $1000

I’m confused, would the values be doubled because of the double declining balance method (200%) ?? so you would for example calculate for the truck:

($15000/5yr class) = $3000 x2 for double decline balance = $6000 year 1 depreciation ??

when do you know when to multiply the depreciation x2 for the double declining balance method ??

[zxiao]

I just did that question earlier. I believe that there's a resource tab that provides you a MACRS table.

I Can Do This!!!!!

BEC: 89
AUD: 99
REG: 93
FAR: 8/2/2014

[zxiao]

I just did that question earlier. I believe that there's a resource tab that provides you a MACRS table.

I Can Do This!!!!!

BEC: 89
AUD: 99
REG: 93
FAR: 8/2/2014

[HeartsMimiCPA]

You have to use the resources tab because you have to do half year convention and those tables take that into account.

If you wanted to do the calculations on your own you'd have to do:

Office Furniture: (2/7) * (1/2) * 10,000 = 1429

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[HeartsMimiCPA]

You have to use the resources tab because you have to do half year convention and those tables take that into account.

If you wanted to do the calculations on your own you'd have to do:

Office Furniture: (2/7) * (1/2) * 10,000 = 1429

AUD - 65, 89!
REG - 70, 89!
FAR - 78!
BEC - 77!

Finally!
Experience 06/30/15
Ethics-Done

VA Licensed 09/15/15

[Author]

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