Harold purchases the following business assets on the dates indicated: a. What is Harolds 2011 cost-recovery deduction
Question:
Harold purchases the following business assets on the dates indicated:
a. What is Harold’s 2011 cost-recovery deduction if he elects not to claim bonus depreciation and does not elect to expense any of the assets under Section 179?
b. What could Harold do to maximize his 2011deduction?
Transcribed Image Text:
Date Purchased Recovery erio Asset Cost Photocopy equipucnt Dump truck Bus S50,000 S300,000 $501,000 12/24/11
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a Because more than 40 of the purchases of tangible personal property took place in the 4th quarter ...View the full answer
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Related Book For
Concepts In Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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