Question
On July 17, 2022, Kevin places in service a used automobile that cost $25,000. The car is used 80% for business and 20% for personal
On July 17, 2022, Kevin places in service a used automobile that cost $25,000. The car is used 80% for business and 20% for personal use. In 2023, he used the automobile 40% for business and 60% for personal use. Determine the cost recovery recapture for 2023.
| a. | $0 | |
| b. | $528 | |
| c. | $2,000 | |
| d. | $2,500 | |
| e. | None of the above |
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
