Question
On October 15, 2021, Jon purchased and placed in service a used car. The purchase price was $38,000. This was the only business use asset
On October 15, 2021, Jon purchased and placed in service a used car. The purchase price was $38,000. This was the only business use asset Jon acquired in 2021. He used the car 80% of the time for business and 20% for personal use. Jon used the regular MACRS method. Calculate the total cost recovery deduction Jon may take for 2021 with respect to the car.
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
