Question
Truck (light-duty, modified non-personal use) costing $20,000: Placed in service on March 3, 2022 with a 5-year MACRS recovery period. Machinery costing $90,000: Placed in
Truck (light-duty, modified non-personal use) costing $20,000: Placed in service on March 3, 2022 with a 5-year MACRS recovery period. Machinery costing $90,000: Placed in service on November 15, 2022 with a 7-year MACRS recovery period. Land costing $88,000: Placed in service on October 12, 2022. Building costing $340,000: Placed in service on December 4, 2018 with a 39-year MACRS recovery period. What is Larges total depreciation deduction in 2022? b. wide Corporation sells the machinery on February 2,2024, and sells the building on September 18,2024 . What are the adjusted bases of these two assets on the dates of sale (compute accumulated depreciation to date of sale)?
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