You purchase equipment for $10,000 and it does not work so you sell it for scrap getting a total of \$1.000. Alt happened in year one, so no depreciation. You have no other 51231 transactions tor the year. What is your los deduction. 14. none unu you claim the depreciation and then recapture it since the ascet was disposed ort in this yea: b. $3,000 this year and the remaining $6,000 will be carried over to future veare ( $3000 limit per year d. $9,000 e. $3,000 thus year and the remaining $7,000 will be carned overto future years ( 53000 limit per yean) To be deductible on a Schedule C, expenses must be (Multiple answers possible and probable) a. reasonable b. invoiced c. essential d. paid by business e. ordinary f. extraordinary g. necessary h. credit card charges Charitable contributions are limited by the amount of the taxpayer's agi? What is the percentage for 2020? a. 60% b. 40% c. 50% d. 80% e. 10%