Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Elan Is purchased a new laptop computer for His real estate business for 2400in 2019 At the time he decided to claim the section 179

Elan Is purchased a new laptop computer for His real estate business for 2400in 2019 At the time he decided to claim the section 179 deduction for the full 2400 and 2022 he sold a laptop for 500 bucks how does he treat this amount? As a long term capital gain of 500 as a long term capital loss of 19 as an ordinary income of 500 as an ordinary loss of 1900

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions