Question
Terry requires/places in service a used 7-year personal property for $100,000 to use in his business in February 2017. Terry does not elect sec. 179
Terry requires/places in service a used 7-year personal property for $100,000 to use in his business in February 2017. Terry does not elect sec. 179 expensing, but does take the maximum regular cost recovery deduction (MACRS rate: 0.1429). He elects not to take additional first-year depreciation. As a result, Terry will have an AMT adjustment (AMT rate: 0.1071) in 2017 of what amount?
a.$0
b.$10,710
c.$3,580
d.$14,290
e.None of these
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
