Cards To Remember

Question 1

FITBAC

Answer 1

Federal income taxes before and after credits

Question 2

CAT
O
R
N

Answer 2

Computer, auto, tractor
5 year property, 1245 recapture

Office and fixtures
7 yr property, 1245 recapture

Residential Real Property
27.5 year property, 1250 recapture

Non- residential Real Property
39 year property, 1250 recapture