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A taxpayer places a $1,060,000 5-year recovery period asset in service in 2021. This is the only asset placed in service in 2021. Assuming half-year
A taxpayer places a $1,060,000 5-year recovery period asset in service in 2021. This is the only asset placed in service in 2021. Assuming half-year convention, an election to expense under Section 179, and no income limitation, what is the amount of total cost recovery deduction (no bonus depreciation)?
a. $1,052,000
b. $1,050,000
c. $1,026,000
d. $210,000
e. $1,040,000
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