[guy10]

I’m a little confused on Sim 15 for REG. Line 20 I calculated the depreciation expense as it says in the explanation and added it to the other two numbers. My answer was $158,002. The $150,000 was given and the $8,002.40 was the result for 7 year MACRS property costing $56,000*14.29% but then the explanation says to round down the $8,002 to $8,000. Where does that come from because in the instructions it just says “no cents” so why is it rounded down to the nearest $1,000th, is that on one of the tax forms for a corporation? I just don’t want to lose points on the exam for a stupid mistake like an implied rounding error. Thanks

AUD: 71, 80 (April 2015)
BEC: 77 (Feb 2015)
FAR: 76 (Jan 2015)
REG: 54, 74, 75 (Nov 2015)

Roger CPA + NINJA 10 Point Combo, Thank you both, I'm finally done