depreciation,costrecovery,amortization,anddepletion(编辑修改稿)

depreciation,costrecovery,amortization,anddepletion(编辑修改稿)内容摘要：

f an election is made to not have the uniform capitalization rules apply, cost is recovered using the ADS straightline method. ANS: T PTS: 1 DIF: 1 REF: p. 812 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 20. When lessor owned leasehold improvements are abandoned because of the termination of the lease, a loss can be taken for the unrecovered basis. ANS: T PTS: 1 DIF: 1 REF: p. 813 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 88 2020 Comprehensive Volume/Test Bank 21. The costs of qualified leasehold improvements owned by the lessee are recovered over a 15year MACRS recovery period. ANS: T PTS: 1 DIF: 1 REF: p. 812 OBJ: 2 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 22. For all property placed in service in 2020, the 167。 179 maximum deduction is limited to $250,000. ANS: F This is the statutory ceiling amount for the deduction in 2020, but only personalty is eligible for 167。 179 expensing. PTS: 1 DIF: 1 REF: p. 814 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 23. The 167。 179 deduction can exceed $250,000 in 2020 if the taxpayer had a 167。 179 amount which exceeded the taxable ine limitation in the prior year. ANS: F The 167。 179 amount eligible for expensing in a carryforward year is limited to the lesser of (1) the statutory dollar amount ($250,000 in 2020) reduced by the cost of 167。 179 property placed in service in excess of $800,000 in the carryforward year or (2) the business ine limitation in the carryforward year. PTS: 1 DIF: 1 REF: p. 814 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 24. Any 167。 179 expense amount that is carried forward is subject to the business ine limitation in the carryforward year. ANS: T PTS: 1 DIF: 1 REF: p. 814 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 25. Taxable ine for purposes of 167。 179 limited expensing is puted without regard to MACRS. ANS: F MACRS depreciation is a deduction in puting taxable ine for purposes of the 167。 179 limitations. PTS: 1 DIF: 1 REF: p. 814 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 26. The basis of property for cost recovery is reduced by the 167。 179 amount that is disallowed because of the business ine limitation. ANS: T The basis is reduced by the 167。 179 amount before the business ine ceiling is applied. PTS: 1 DIF: 1 REF: p. 815 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min Depreciation, Cost Recovery, Amortization, and Depletion 89 used for the production of ine is not eligible for 167。 179 expensing. ANS: T PTS: 1 DIF: 1 REF: p. 814 OBJ: 3 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 28. The statutory dollar cost recovery limits under 167。 280F apply to all automobiles. ANS: F The statutory cost recovery limits under 167。 280F apply only to automobiles which meet the definition of a passenger automobile (., do not apply to a taxi). PTS: 1 DIF: 1 REF: p. 816 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 29. The 167。 179 limit for a sports utility vehicle with a GVW of 7,000 pounds used in a trade or business is $25,000. ANS: T PTS: 1 DIF: 1 REF: p. 814 | p. 818 OBJ: 3 | 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 30. Once the morethan50% business usage test is passed for listed property, it does not matter if the business usage for the property drops to 50% or less during the recovery period. ANS: F If the business usage declines to 50% or less, the straightline method must be used and the property is subject to cost recovery recapture. PTS: 1 DIF: 1 REF: p. 818 | p. 819 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 31. If a new car that is used predominantly in business is placed in service in 2020, the statutory dollar cost recovery limit under 167。 280F will depend on whether the taxpayer takes MARCS or straightline depreciation. ANS: F The statutory cost recovery limits apply regardless of whether MACRS or straightline apply. PTS: 1 DIF: 1 REF: p. 816 | p. 817 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 32. If an automobile is placed in service in 2020, the limitation for cost recovery in 2020 will be based on the cost recovery limits for the year 2020. ANS: F The limits will be based on the limits for automobiles placed in service in 2020. PTS: 1 DIF: 1 REF: p. 817 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 810 2020 Comprehensive Volume/Test Bank 33. The statutory dollar cost recovery limits under 167。 280F for passenger automobiles do not apply if midquarter cost recovery is used. ANS: F The 167。 280F limits apply to all passenger automobiles, regardless of the MACRS convention used. PTS: 1 DIF: 1 REF: p. 816 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 34. If an $80,000 automobile used 100% for business in the first year (2020) fails the 50% business usage test in the second year, no cost recovery will be recaptured. ANS: F The total cost recovery deduction for the first year would be $10,960 (167。 280F limit). The cost recovery in the first year using straightline would be $8,000 [($80,000  10% = $8,000) (limited to $10,960。 167。 280F limit)]. So the cost recovery recapture would be $2,960 ($10,960 – $8,000). PTS: 1 DIF: 1 REF: p. 818 | p. 819 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 5 min 35. The inclusion amount for a leased automobile is not adjusted by a business usage percentage. ANS: F The inclusion amount for a leased automobile is adjusted for business use. PTS: 1 DIF: 1 REF: p. 819 | p. 820 OBJ: 4 NAT: AICPA FNMeasurement | AACSB Analytic MSC: 2 min 36. All listed。