Chapter 13 - Tax Rules for Depreciation and
Property Dispositions
Updates
Exercises 28 and 29:
(page 467) An important piece of information is missing
from these exercises - the date the assets were placed in
service. Assume that the building and other assets were
placed in service in January 1997.
New annual depreciation deduction limitations for autos placed in
service in 1999 (page 447): The IRS issued Revenue Procedure 99-14,
1999-5 I.R.B. 56, which provides the following depreciation limitations
for autos placed in service in 1999:
| 1st year (1999) | $3,060 |
| 2nd year | $5,000 |
| 3rd year | $2,950 |
| Each succeeding year | $1,775 |
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Last updated on October 12,
1998.
Tax Aspects of Business Transactions: A First Course, by
Annette Nellen
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