Tracy acquires an automobile (MACRS 5-year recovery) on March 1, 2018. He uses the automobile 70% in
Question:
Tracy acquires an automobile (MACRS 5-year recovery) on March 1, 2018. He uses the automobile 70% in his business and 30% for personal use. The automobile cost $76,000. No amount is expensed under Sec. 179, and Tracy elects out of bonus depreciation.
a. What is depreciation for 2018 and each subsequent year?
b. How would your answer co Part a change if the vehicle were a SUV with a gross vehicle weight rated (GVWR) of over 6,000 pounds and Tracy elected co expense the SUV under Sec. 179?
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a Depreciation for each year is computed as follows 100 BusinessUse MACRS Deduction Ceiling Limit De...View the full answer
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Related Book For 
Federal Taxation 2019 Individuals
ISBN: 9780134739670
32nd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson
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