Question
On April 5, 2023, Kinsey places in service a new automobile that cost $53,000. He does not elect 179 expensing, and he elects not to
On April 5, 2023, Kinsey places in service a new automobile that cost $53,000. He does not elect 179 expensing, and he elects not to take any available additional first-year depreciation. The car is used 75% for business and 25% for personal use in each tax year. Kinsey uses the regular MACRS method of cost recovery (the auto is a 5-year asset
Compute the total depreciation allowed for:
| 2023: | |
| 2024: |
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
