Question
Mark purchased a delivery truck in 2020. Mark uses the truck for both business and personal use. In 2020 Mark depreciated the truck using the
Mark purchased a delivery truck in 2020. Mark uses the truck for both business and personal use. In 2020 Mark depreciated the truck using the half-year convention and no bonus or Section 179 depreciation was taken. In 2020 Mark's business use was 65%. However, in 2021 Mark's business use dropped to 45%. What MACRS depreciation method must Mark use in 2021?
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Depreciation is a deduction that enables a business to write off the cost of the property it buys It does not apply to leased or rented property Usually annual allowances for depreciation are spread o...
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
