Norm purchases a new sports utility vehicle (SUV) on October 12, 2010, for $50,000. The SUV has
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Norm purchases a new sports utility vehicle (SUV) on October 12, 2010, for $50,000. The SUV has a gross vehicle weight of 6,200 lbs. It is used 100% of the time for business and it is the only business asset acquired by Norm during 2010. Compute the maximum deduction with respect to the SUV for 2010. If Congress reenacts additional first-year depreciation for 2010, Norm elects not to take additional first-year depreciation.
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Related Book For 
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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