Juan acquires a new 5-year class asset on March 14, 2022, for $200,000. This is the only
Question:
Juan acquires a new 5-year class asset on March 14, 2022, for $200,000. This is the only asset Juan acquired during the year. He does not elect immediate expensing under § 179. He does not claim any available additional first-year depreciation.
On July 15, 2023, Juan sells the asset.
a. Determine Juan’s cost recovery for 2022.
b. Determine Juan’s cost recovery for 2023.
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Related Book For 
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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