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Audra acquires the following new 5 year class property in 2021. Asset Acquisition Date. Cost A Jan 10. $106,000 B. July 5. $70,000 C. November
Audra acquires the following new 5 year class property in 2021.
Asset Acquisition Date. Cost
A Jan 10. $106,000
B. July 5. $70,000
C. November 15 $1,950,000
Total $2,126,000
Audra elects code section 179 treatment for Asset C. Her taxable income from her business would not create a limitation for purposes of the code section 179 deduction. Audra does not claim any available first- year depreciation deduction. Determine her total cost recovery deduction (including the code section 179 deduction) for the year.
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