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Bonnie purchased a new business asset (5 yr. property) on March 10, 2022 at a cost of $30,000. She also purchased a new business asset
Bonnie purchased a new business asset (5 yr. property) on March 10, 2022 at a cost of $30,000. She also purchased a new business asset (7 yr. property) on November 20, 2022 at a cost of $13,000. Bonnie did not elect to expense either of the assets under SS179, nor did she elect straight line cost recovery. Bonnie takes additional first year depreciation. Determine the cost recovery deduction for 2022 for these assets.
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