Question
income taxation In September 2019 GC purchased five fork-lifts (five-year items). Cost 200,000 each (total 1 million). GC declined section 179 and special first year
income taxation
In September 2019 GC purchased five fork-lifts (five-year items). Cost 200,000 each (total 1 million). GC declined section 179 and special first year write off on these items.
In 2021 GC sold one of the fork lifts for 85,000.
What is MACRS amounts for GC for all fork lifts until they are completely written off.
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Tax Accounting
Authors: Greg Shields
1st Edition
163716128X, 978-1637161289
