Question
In 2020, Oscar Co. purchased a piece of business-use equipment for $1,000,000. The equipment has a 7-year MACRS GDS recovery period and is depreciated under
In 2020, Oscar Co. purchased a piece of business-use equipment for $1,000,000. The equipment has a 7-year MACRS GDS recovery period and is depreciated under MACRSGDS (no SL election). The equipment was placed in service on September 10, 2020. This was the only asset that Oscar Co. placed in service in 2020. Oscar Co. did not electSection 179 deductions. Oscar Co. did not elect out of Section 168(k) bonus depreciation. What will Oscars depreciation deduction be for 2021?
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne William McManus, Daniel Viele
6th Edition
0072834641, 978-0072834642
