On May 28, 2013, Mary purchased and placed in service a new $20,000 car. The car was

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On May 28, 2013, Mary purchased and placed in service a new $20,000 car. The car was used 60% for business, 20% for production of income, and 20% for personal use in 2013. In 2014, the usage changed to 40% for business, 30% for production of income, and 30% for personal use. Mary did not elect immediate expensing under § 179. She elects not to take additional first-year depreciation. Compute the cost recovery and any cost recovery recapture in 2014?
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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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