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Patrick purchased a used passenger automobile on June 1, 2018. He paid $19,000 for the automobile. During 2018, he uses the automobile 75 percent of
Patrick purchased a used passenger automobile on June 1, 2018. He paid $19,000 for the automobile. During 2018, he uses the automobile 75 percent of the time for business. Patrick wishes to claim the maximum amount of depreciation possible (no bonus depreciation or election to expense).
a. | Calculate Patrick's depreciation expense on the automobile for 2018.
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b. | Calculate Patrick's depreciation expense on the automobile for 2019, assuming the same 75 percent business use. |
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