LO.8 On October 15, 2018, Jon purchased and placed in service a used car. The purchase price
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LO.8 On October 15, 2018, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business use asset Jon acquired in 2018. He used the car 80% of the time for business and 20% for personal use. Jon used the regular MACRS method. Calculate the total deduction Jon may take for 2018 with respect to the car.
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Related Book For
Essentials Of Taxation Individuals And Business Entities 2019
ISBN: 9780357233290
1st Edition
Authors: William A Raabe, James C Young
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