On June 5, 2017, Leo purchased and placed in service a new car that cost $20,000. The
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On June 5, 2017, Leo purchased and placed in service a new’ car that cost $20,000. The business use percentage for the car is always 100%. Leo claims any available additional first-year depreciation. Compute Leo’s cost recovery deductions for 2017 and 2018.
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2017 Additional firstyear depreciation 20000 50 10000 MACRS cost recovery 20000 10000 20 20...View the full answer
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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