Question
When MACRS, Table 1 depreciation for a passenger auto or light SUV pickup or van is in excess of annual IRS limits, the excess depreciation
When MACRS, Table 1 depreciation for a passenger auto or light SUV pickup or van is in excess of annual IRS limits, the excess depreciation _____
A. is lost permanently
B. may be taken by extending the MACRS recovery period for as many years as are needed to depreciate the cost basis
C. may be taken by extending the MACRS recovery period for one extra year
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Financial Accounting Fundamentals
Authors: John J. Wild
5th edition
1308500102, 1308500106, 78025753, 978-0078025754
