Juan acquires a new five-year class asset on March 14, 2013, for $200,000. This is the only
Question:
Juan acquires a new five-year class asset on March 14, 2013, for $200,000. This is the only asset Juan acquired during the year. He does not elect immediate expensing under § 179. He elects not to take additional first-year depreciation. On July 15, 2014, Juan sells the asset.
a. Determine Juan's cost recovery for 2013.
b. Determine Juan's cost recovery for 2014?
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a 2013 MACRS cost recovery 200000 20 Table 81 40000 b 2014 MACRS cost recovery 20000...View the full answer
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Related Book For 
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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