Question
This year Kennedy purchased computer equipment for $3,000 and office furniture for $5,000 for her new office. If possible, she would like to elect to
This year Kennedy purchased computer equipment for $3,000 and office furniture for $5,000 for her new office. If possible, she would like to elect to immediately expense the entire cost of these items using section 179. She also has an off-road vehicle used 100% in her business. She purchased it for $20,000 and placed it into service last year. She uses the 5-year 200% Double Declining MACRS cost recovery method and the Half Year Convention to depreciate the vehicle. Last year depreciation rate was 20% and the 2nd year rate is 32%. Ignore application of any listed property limitations.
What is the depreciation for the truck?
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