Question
James purchased (and placed in service) a new business asset (three-year personalty) on July 23, 2017, at a cost of $40,000. James takes additional first-year
James purchased (and placed in service) a new business asset (three-year personalty) on July 23, 2017, at a cost of $40,000. James takes additional first-year depreciation but no applicable Section 179 deduction. Determine the cost recovery deduction for 2018.
| a. | $40,000 |
| b. | $26,666 |
| c. | $33,333 |
| d. | $8,890 |
| e. | 17,780 |
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The Organisation Shadow Side Audit
Authors: W Tate
1st Edition
1902433971, 978-1902433974
