Music City Trykes Chapter of National Ambucs Inc

“Grants and similar amounts paid (Payment of membership dues to National AMBUCS (parent organization) = $617”

“Description;Amount^Purchase of tricycles from AmTryke LLC for children with special needs;68196|Outfitting of trailer to transport and support tricycle giveaways;2054|General Expenses PO Box giveaway supplies volunteer food t shirts;3480|Deposits forfeited for cancelled events due to COVID 19 Restrictions;1000^Total;74730^”

“Trailer Asset purchased on 6/15/2018 for $3296.00, but put into service on 6/1/2019. Thus, following ADS SL Mid-Quarter depreciation in table A-9 of Publication 946 for a 5 year asset (vehicle or similar) put into service within the first quarter (our best understanding of the most appropriate method), the total depreciation for the first year of service is $576.80 (17.5% of value). Thus the change in net assets was a reduction of $577.”

“Trailer Asset purchased on 6/15/2018 for $3296.00, but put into service on 6/1/2019. Thus, following ADS SL Mid-Quarter depreciation in table A-9 of Publication 946 for a 5 year asset (vehicle or similar) put into service within the first quarter (our best understanding of the most appropriate method), the total depreciation for the first year of service is $576.80 (17.5% of value). Thus the residual asset value at the end of tax year 2019 is the original purchase price minus the first year depreciation, resulting in an amount of $2,719.20”