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24 terms

HRB-16 Exercises

H&R Block Ch 16 Depreciation
STUDY
PLAY
Is the property depreciable:
An automobile used only for personal driving.
No
Is the property depreciable:
An automobile used exclusively in a business.
Yes
Is the property depreciable:
A vacant piece of land held for investment.
No
Is the property depreciable:
An unimproved piece of land used as a commercial parking lot.
No
Is the property depreciable:
A small tool used in business. The tool will wear out in aout three months.
No
Is the property depreciable:
A personal residence owned by the taxpayer. No part of the home is used for business.
No
Is the property depreciable:
A residence rented to others.
Yes
Is the property depreciable:
An office building.
Yes
Is the property depreciable:
A dump truck used in a business.
Yes
Is the property depreciable:
A diamond held for investment.
No
Determine MACRS Recovery Period:
Bus
5 years
Determine MACRS Recovery Period:
Computer
5 years
Determine MACRS Recovery Period:
Concrete Truck
5 years
Determine MACRS Recovery Period:
Copier
5 years
Determine MACRS Recovery Period:
Grain Bin
7 years
Determine MACRS Recovery Period:
Helicopter
5 years
Determine MACRS Recovery Period:
Fence
15 years
Determine MACRS Recovery Period:
Ferry Boat
10 years
Determine MACRS Recovery Period:
File Cabinet
7 years
Determine MACRS Recovery Period:
Taxi
5 years
Determine MACRS Recovery Period:
Dairy Cow
5 years
Determine MACRS Recovery Period:
Shrubery
15 years
Determine MACRS Recovery Period:
Calculator
5 years
Determine MACRS Recovery Period:
Store Shelves
5 years