Kind of confused on this. So XYZ purchased 100,000 in equipment, it will be depreciated...
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Accounting
Kind of confused on this. So XYZ purchased 100,000 in equipment, it will be depreciated using straight line over 4 years for book purposes and double declining over 4 years for tax purposes. I calculated the Double Declining Depreciation as follows: 100,000/4=25,000 25,000/100,000=.25 .25x2=.50 100,000x .50=50,000 Would this be reported as a deduction for tax? Or how would it be reported?
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