Question
On October 15, 2017, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business use asset
On October 15, 2017, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business use asset Jon acquired in 2017. He used the car 80% of the time for business and 20% for personal use. Jon used the MACRS stature percentage method and does not claim any expense under 179 . If required, round your answers to the nearest dollar. Click here to access Exhibit 8.5 of the textbook. Click here to access the limits for certain automobiles.
e. The total cost recovery deduction Jon may take for 2017 with respect to the car is $
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