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The Geezer
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Category: General
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Experience:  Retired Civil Engineer, USC Professor & Realtor, financier
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In May 2006 of this year, Cassie acquired a machine for ...

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In May 2006 of this year, Cassie acquired a machine for $20,000 to use in her business. The machine is classified as 5 year property. No election is made regarding the property. Cassie's depreciation on the machine this year is:
Submitted: 9 years ago.
Category: General
Expert:  The Geezer replied 9 years ago.
In the absence of an election for the property, straight line depreciation is used. We did this for both of the non-profits where I was a member of the Board.

$20,000 over five years is $4,000 per year... this assumes a zero salvage value.
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