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Section 5 Question 22 of 40. On March 1, 2019, Ron and Mike started a business organized as a C corporation. They decided to use
Section 5 Question 22 of 40. On March 1, 2019, Ron and Mike started a business organized as a C corporation. They decided to use a shon tot the special depreciation allowance and are not eligible to use the standard mileage rate. Ron and Mike cars into service immediately on March 1. The cars were used exclusively for business purposes. Ron and Mike wot dom 2019 and the calendar year thereafter. They purchased seven passenger cars for the use of their employees. They placed the 0000689 Must depreciate the cars using the straight-line method. May not claim the $179 deduction for any of the cars. Will reference Table A-1 of the MACRS Percentage Tables to calculate their depreciation deduction Will apply a reduced passenger automobile limitation because their tax year was only nine months long. Instead of 12. Mark for follow up Next >> Summary Back Save / Return Later
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