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Chelsie purchased a new business asset (five-year MACRS asset) on August 15, 2018, at a cost of $200,000. On October 4, 2018, Chelsie placed this
Chelsie purchased a new business asset (five-year MACRS asset) on August 15, 2018, at a cost of $200,000. On October 4, 2018, Chelsie placed this asset in service. This was the only asset Chelsie placed in service in 2018. On her 2018 return, Chelsie chose not to elect 179 or additional first year depreciation, but did choose to maximize her available MACRS depreciation deduction. On August 20, 2019, Chelsie sold the asset. Determine the total depreciation Chelsie is entitled to claim for this one asset on her 2019 federal income tax return?
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