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On March 1, 2019, Leo purchased and placed in service a new car that cost $65,400. The business use percentage for the car is always
On March 1, 2019, Leo purchased and placed in service a new car that cost $65,400. The business use percentage for the car is always 100%. He does not take the additional first-year depreciation or any 179.
a. What MACRS convention applies to the new car?
b. Is the automobile considered "listed property"?
c. Leo's cost recovery deduction in 2019 is __________ and for 2020 is ___________.
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