Question
Tim purchases a new SUV on October 12, 2023 for $60,400. The SUV has a gross vehicle weight of 6,200 lbs. It is used 100%
Tim purchases a new SUV on October 12, 2023 for $60,400. The SUV has a gross vehicle weight of 6,200 lbs. It is used 100% of the time for business and it is the only business asset acquired by Tim during 2023. Compute the maximum deduction with respect to the SUV for 2023. Tim does not take additional first-year bonus depreciation.
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
2nd Edition
0030270995, 978-0030270994
