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Kirk has the following depreciable assets in his business: Computer equipment (5 year) purchased 7/3/2020 - Orginal cost $10,000, HY convention. Office fumiture (7-year)
Kirk has the following depreciable assets in his business: Computer equipment (5 year) purchased 7/3/2020 - Orginal cost $10,000, HY convention. Office fumiture (7-year) purchased 4/2/2019 - Original cost $5,000, HY convention. Kirk elected NOT to take any sec. 179 or bonus depreciation and elected MACRS DDB on these assets when he originally placed them in service. What is Kirk's total cost recovery (depreciation) deduction for these assets in 2021.
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
