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An Auto Repair is a calendar year taxpayer. The repair shop purchased a light weight truck on March 15, 2017 for $40,000 that it used
An Auto Repair is a calendar year taxpayer. The repair shop purchased a light weight truck on March 15, 2017 for $40,000 that it used for business purposes. On August 21, 2018, the repair shop sold the truck for $35,000. Assume that the lightweight truck was the only asset purchased in 2017. Auto Repair shop opted out of Sec 179 and bonus depreciation for 2017. How much total depreciation deduction did the Auto Repair shop have from the truck for tax purposes in 2018?
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