- 3 -
4562, a self-prepared "Depreciation/Amortization Report", and a
self-prepared "Section 179 Expense Report".
On the first Form 4562, petitioner claimed depreciation
deductions as follows:
MACRS depreciation for assets placed in
service only during your 1994 tax year $1,216
Other depreciation 1,866
Listed property 1,792
Total $4,874
The self-prepared Depreciation/Amortization Report describes
all of the individual items of depreciated property. These items
include a copier, filing cabinet, camera, desk, typewriter,
Dictaphone, Ford Mustang, and several computers. The total of
the "1994 Depreciation/Amortization" for the items described on
the report is $4,874.
On the second Form 4562, petitioner claimed a section 179
expense deduction in the total amount of $15,750. The self-
prepared Section 179 Expense Report reveals that the total amount
claimed includes the following:
Description Business Use Elected Section
Activity of Property Cost/Basis 179 Expense
Sch. C R.N./Attorney Computers $1,842 $1,000
Sch. C R.N./Attorney Computer 4,014 2,000
Sch. C R.N./Attorney Copier 5,384 3,000
Sch. C R.N./Attorney Camera 572 500
Sch. C R.N./Attorney Desk 450 250
From K-1's 9,000
Totals $12,262 $15,750
The total amount of the depreciation and section 179 expense
deductions listed on the Forms 4562 and the self-prepared reports
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011