- 12 -
additional depreciation in the amount of $374 for the taxable
year 1992, attributable to a computer and peripherals listed on
the 1991 return with a basis of $5,405, but for which no
depreciation had been claimed for the 1992 taxable year.
Petitioners have established the bases of assets that were
placed in service in 1991. Respondent, therefore, concedes that
petitioners are entitled to depreciation with respect to those
assets in the amount of $2,180 for the taxable year 1992.
Petitioners claimed depreciation for the 1992 taxable year
with respect to six vehicles in the following amounts:
Business Placed in Cost Remaining
Description Use Service Basis Basis Years Method Deduction
Dodge 1-Ton 100% 1/1/88 $2,500 $432 5 100 DB $173
Jeep Wagon 100 1/1/88 1,200 208 5 200 DB 83
Ford 1-Ton 100 1/1/88 2,000 346 5 200 DB 138
Chevy- C-50 100 8/6/91 2,196 1,756 5 � 200 DB 702
Dodge 3/4-Ton 100 8/10/91 4,176 3,340 5 � 200 DB 1,336
Ford F-350 100 2/15/92 6,010 6,010 5 � 200 DB 1,202
Total 3,634
The first five vehicles listed are the same five vehicles upon
which petitioners claimed depreciation in 1991. The facts
pertaining to petitioners' calculation of the depreciable bases
of these five vehicles and petitioners' substantiation of their
costs and acquisition dates are the same as those facts
applicable to the 1991 taxable year. Accordingly, respondent has
conceded that petitioners are entitled to depreciation relating
to the Chevy C-50 and Dodge 3/4-ton in the amounts of $702 and
$1,336, respectively. Petitioners' claimed depreciation with
respect to the three vehicles placed in service on January 1,
Page: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 NextLast modified: May 25, 2011