Throughout this assignment, you will learn how to depreciate business assets using the appropriate recovery period, convention, and method using MACRS depreciation. You will also learn how to calculate an asset’s adjusted basis. Upon completion, you’ll understand how to help your clients reduce their tax liability.

Learning objectives

1. Identify the appropriate recovery period for different asset classifications.
2. Apply the correct depreciation convention based on when the asset was placed in service during the tax year.
3. Use MACRS tables to determine annual tax depreciation expenses.
4. Recognize how adjusted tax basis is impacted by accumulated depreciation.

Suitable courses: tax

You must have an account with EYARC Experience and then go to the Assignment Catalog to review