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Date Cost or Basis Elected
Placed Other Recovery for Depreciation Sec. 179
Item in Service Basis Period Depreciation Deduction Cost
2001 Return:
Truck 1/2001 $35,000 5 years -- $7,000 --
Farm buildings 3/1986 75,000 15 years -- 5,000 --
Farm buildings 3/1990 25,000 10 years -- 2,500 --
Farm buildings 9/1997 50,000 10 years -- 5,000 --
Drainage tile 9/1997 10,000 5 years -- 2,000 --
Total 21,500
2002 Return:
Truck 1/2001 $35,000 5 years $4,000 $1,000 $24,000
Farm buildings 3/1986 75,000 15 years -- 5,000 --
Farm buildings 3/1997 50,000 10 years -- 5,000 --
Drainage tile 9/1997 10,000 5 years -- 2,000 --
Total 13,000 24,000
2003 Return:
Truck 1/2001 $35,000 5 years 11,000 $1,000 --
Farm buildings 9/1997 50,000 10 years -- 5,000 --
Drainage tile 9/1997 10,000 5 years -- 2,000 --
Total 8,000
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Last modified: May 25, 2011