Yoyo Corporation bought $42,000 worth of energy equipment in November 2014, taking an investment credit of $4,200.

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Yoyo Corporation bought $42,000 worth of energy equipment in November 2014, taking an investment credit of $4,200. In March 2019, the firm sells the equipment for $30,000. What is the investment credit recapture?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 27, 2024 03:04 AM

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Yoyo Corporation bought $42,000 worth of energy equipment in November 2014, taking an investment credit of $4,200.

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The Investment Tax Credit ITC recapture may occur when the taxpayer dispose...View the full answer

CCH Federal Taxation Basic Principles 2020

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