Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On February 4, 2018, Jackie purchased and placed in service a car she purchased for $21,000. The car was used exclusively for her business. Compute

On February 4, 2018, Jackie purchased and placed in service a car she purchased for $21,000. The car was used exclusively for her business. Compute Jackie’s cost recovery deduction in 2018 assuming no §179 expense but the bonus was taken: (Use Table 6A-1 and Luxury Automobile Depreciation)9773500 2 2 1 2 1 2 1 2 1 2 1 2 1 1 17718826666666666663 726172854444444444442 376655444444444444442 55792 05 5987665555555Year 1 (2016) Year 2 (2017) Year 3 (2018) Year 4 (2019) and succeeding Auto Limit $18,000 16,000 9,600 5,760 

Half-Year Convention Recovery Year 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 1 33.33 20.00 14.29 10.00 5.00 3.750 2 44.45 32.00 24.49 17.49 18.00 9.50 7.219 3 14.81 19.20 14.40 11.52 8.55 6.677 4 7.41 11.52 12.49 7.70 6.177 11.52 8.93 9.22 6.93 5.713 5.76 8.92 7.37 6.23 5.90 5.285 7 8.93 6.55 4.888 8. 4.46 6.55 5.90 4.522 9 6.56 5.91 4.462 10 6.55 5.90 4.461 11 3.28 5.91 4.462 12 5.90 5.91 4.461 13 4.462 14 5.90 4.461 15 5.91 4.462 16 2.95 4.461 17 4.462 18 4.461 19 4.462 20 4.461 21 2.231

Step by Step Solution

3.47 Rating (147 Votes )

There are 3 Steps involved in it

Step: 1

The answer is 18000 W... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Document Format ( 2 attachments)

PDF file Icon
636478aebcf58_239309.pdf

180 KBs PDF File

Word file Icon
636478aebcf58_239309.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Taxation 2015

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

8th Edition

1259293092, 978-1259293122, 1259293122, 978-1259293092

More Books

Students also viewed these Accounting questions