LO.6 On May 28, 2010, Mary purchased and placed in service a new $40,000 car. The car

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LO.6 On May 28, 2010, Mary purchased and placed in service a new $40,000 car. The car C R I T I CAL THINKING was used 60% for business, 20% for production of income, and 20% for personal use in 2010. In 2011, the usage changed to 40% for business, 30% for production of income,

and 30% for personal use. Mary did not elect immediate expensing under §

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South Western Federal Taxation 2011 Taxation Of Business Entities

ISBN: 9780538498616

14th Edition

Authors: James E. Smith, William A. Raabe, David M. Maloney

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