Question
On April 5, 2021, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax
On April 5, 2021, Kinsey places in service a new passenger automobile that cost $60,000. The car is used 100% for business in each tax year. Kinsey uses the MACRS 200% declining-balance method of cost recovery (the auto is a 5-year asset).
Assume Kinsey elects any available additional first-year depreciation. What is the maximum depreciation allowed for 2021 and for 2022
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Accounting For Biological Assets
Authors: Rute Goncalves, Patricia Teixeira Lopes
1st Edition
1032096225, 9781032096223
