Assets:Gayle has been grooming dogs since 2016, but did not have any net income from the activity, so she did not report it on previous returns.

Assets:  Gayle has been grooming dogs since 2016, but did not have any net income from the activity, so she did not report it on previous returns.  However, this year she is earning more and has an asset sale so she has provided the following information: Calculate accumulated depreciation and recapture (if applicable)

1. Grooming table 7-year half year convention purchased 6/1/16       $2,500  

did not take any section 179 or bonus     sold 8/1/18 for $1,500

1. Used Van for mobile grooming service 5-year life mid quarter convention   purchased 10/1/17     $12,000      
2. Grooming tools   7-year life           purchased in 2018            $ 1,500           took bonus depreciation
3. New grooming table 7-year life   purchased in 2018            $3,000    took bonus depreciation

REMEMBER: Use depreciation ALLOWED OR ALLOWABLE to calculate the gain or loss on the grooming table sale.