The following information was derived from an example of the Modified Accelerated Cost Recovery System (MACRS) where you bought business office furniture only to be used for the business (7-year property) for $10,000 and placed it into service on 10-13-13, and Part I of the way to figure the answer is to use the GDS, put the property class as 7-year, date placed in service would be 10-13-13 with a recovery period of 7 years, a method and convention of 200%/DB/Half-year and to use the depreciation rate from tables of 1429.
The following information was derived from an example of the Modified Accelerated Cost Recovery System (MACRS) where you bought business office furniture only to be used for the business (7-year property) for $10,000 and placed it into service on 10-13-13, and Part I of the way to figure the answer is to use the GDS, put the property class as 7-year, date placed in service would be 10-13-13 with a recovery period of 7 years, a method and convention of 200%/DB/Half-year and to use the depreciation rate from tables of 1429.