Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On July 2, 2019, a taxpayer placed in service a new computer that cost $4,000. The computer is used 100% for business. Section 179 was
On July 2, 2019, a taxpayer placed in service a new computer that cost $4,000. The computer is used 100% for business. Section 179 was not taken on the computer in 2019, but 50% bonus depreciation and MACRS were used to depreciate the computer. If this was the only property placed in service during 2019, the taxpayer's 2020 depreciation on the computer would be:
$400 $200 $800 $1,280 $640
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started