Question
On March 1, 2018, Leo purchased and placed in service a new car that cost $73,800. The business use percentage for the car is always
On March 1, 2018, Leo purchased and placed in service a new car that cost $73,800. The business use percentage for the car is always 100%. He does not take the additional first-year depreciation or any 179.
If required, round your answers to the nearest dollar.
a. What MACRS convention applies to the new car? Half-year
b. Is the automobile considered "listed property"? Yes
c. Leo's cost recovery deduction in 2018 is $ and for 2019 is $
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Auditing Concepts For A Changing Environment With IDEA Software
Authors: Larry E. Rittenberg, Bradley J. Schwieger
4th Edition
0387321500, 978-0324180237
