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question is for a federal income tax class 3. S purchased a used automobile to be used in his sole proprietorship. For the year, S's
question is for a federal income tax class
3. S purchased a used automobile to be used in his sole proprietorship. For the year, S's business mileage was 20,000 miles, while his personal mileage was 30,000 miles. S may (ignoring bonus depreciation) A. Claim no depreciation because the car was used predominantly for personal purposes B. Elect limited expensing under 179 C. Deduct a maximum of $10,000 (2018) of depreciation D. Claim depreciation using the straight-line method 3. S purchased a used automobile to be used in his sole proprietorship. For the year, S's business mileage was 20,000 miles, while his personal mileage was 30,000 miles. S may (ignoring bonus depreciation) laim no depreciation because the car was used predominantly for personal purposes B. Elect limited expensing under 179 C. Deduct a maximum of $10,000 (2018) of depreciation D. Claim depreciation using the straight-line method Step by Step Solution
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