Hazel purchased a business asset (5-year property) on March 10, 2019, at a cost of $80,000. She
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Question:
Hazel purchased a business asset (5-year property) on March 10, 2019, at a cost of
$80,000. She did not elect to expense any of the cost under Section 179 and
elected out of bonus depreciation. Hazel sold the asset on January 20, 2020.
Determine Hazel's adjusted basis in the asset at the time of sale.
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