DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 2/17 $ 10,000 Furniture 5/12 $ 17,000 Commercial building 11/1 $ 270,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 1/23 of year 3?

DLW Corporation acquired and placed in service the following assets during the year: Asset Date Acquired Cost Basis Computer equipment 2/17 $ 10,000 Furniture 5/12 $ 17,000 Commercial building 11/1 $ 270,000 Assuming DLW does not elect §179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) b. What is DLW's year 3 cost recovery for each asset if DLW sells these assets on 1/23 of year 3?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 76P

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Asset	Date Acquired	Cost Basis
Computer equipment	2/17	$ 10,000
Furniture	5/12	$ 17,000
Commercial building	11/1	$ 270,000

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