Question
Euclid acquires a 7 year class asset on May 9,2021 for $80,000(only asset acquired during the year). Euclid does not elect immediate expense under 179.
Euclid acquires a 7 year class asset on May 9,2021 for $80,000(only asset acquired during the year). Euclid does not elect immediate expense under 179. She does not claim any available additional 1st year dep. Calculate cost recovery deduction for 2021 and 2022.
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International Corporate Reporting Global And Diverse
Authors: Pauline Weetman, Ioannis Tsalavoutas, Paul Gordon
5th Edition
1138364991, 9781138364998
