Question: Juan a sole proprietor acquires a new 5 year class asset

Juan, a sole proprietor, acquires a new 5-year class asset on March 14, 2014, for $200,000. This is the only asset Juan acquired during the year. He does not elect immediate expensing under § 179. Juan does not claim any available additional first-year depreciation. On July 15, 2015, Juan sells the asset.
a. Determine Juan's cost recovery for 2014.
b. Determine Juan's cost recovery for 2015.

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  • CreatedMay 25, 2015
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