Question
Purchased a truck for $15,000. In 2019, he claimed a $3,000 Sec. 179 deduction and began depreciating the truck. He sold the truck in 2022
Purchased a truck for $15,000. In 2019, he claimed a $3,000 Sec. 179 deduction and began depreciating the truck. He sold the truck in 2022 for $13,000. Prior to the sale, Ben claimed MACRS deductions of $8,000. Had Ben claimed straight-line depreciation, he would have claimed $6,000 prior to the sale.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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