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Betty Purchases a Used $12,000 Car in 2019, to Use

Question 1

Essay

Betty purchases a used $12,000 car in 2019, to use exclusively in her business.
a. What will the standard MACRS depreciation schedule be for the 6 years the auto is depreciated (no Section 179 or bonus depreciation)?
Year 1:
Year 2:
Year 3:
Year 4:
Year 5:
Year 6:
b. If Betty holds the car until it is fully depreciated, and uses straight-line depreciation, how many years will this take?

Correct Answer:

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