Determine the MACRS cost recovery deductions for 2017 and 2018 on the following assets that were purchased for use in a farming business on July 15,2017.The taxpayer does not wish to use the Section 179 election.
a.Breeding hogs depreciation:
Total 2017 Breeding hogs Cost Recovery Deduction (show your calculations)
Total 2018 Breeding hogs Cost Recovery Deduction (show your calculations)
b.Dairy cattle depreciation:
Total 2017 Dairy Cattle Cost Recovery Deduction (show your calculations)
Total 2018 Dairy Cattle Cost Recovery Deduction (show your calculations)
c.Tractor depreciation:
Total 2017 Tractor Cost Recovery Deduction (show your calculations)
Total 2018 Tractor Cost Recovery Deduction (show your calculations)
Definitions:
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