Tan company acquires a new machine (10-year property) on january 15, 2019, at a cost of $200,000. tan also acquires another new machine (7-year property) on november 5, 2019, at a cost of $40,000. no election is made to use the straight-line method. the company does not make the § 179 election and elects to not take additional first-year depreciation. determine the total deductions in calculating taxable income related to the machines for 2019.

$132,858

Explanation:

New machine (ten-year property) on January 15, 2019:

Additional first-year depreciation =  200,000 × 50% half year convention

                                                       = $100,000

MACR depreciation = $100,000 × 10%                                                        

                                 = $10,000

New machine (ten-year property) on January 15, 2019:

=  Additional first-year depreciation + MACR depreciation

= $100,000  + $10,000

= $110,000

Another new machine (seven-year property) on November 5, 2019:

Additional first-year depreciation = $40,000 × 50% half year convention

                                                       = $20,000

MACR depreciation = [$20,000 × 14.29%]                                                      

                                 = $2,858

New machine (ten-year property) on November 5, 2019:

=  Additional first-year depreciation + MACR depreciation

= $20,000 + $2,858

= $22,858

Total deductions:

= New machine (ten-year property) on January 15, 2019 +  New machine (ten-year property) on November 5, 2019

= $110,000 +  $22,858

= $132,858

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