On May 15, 2020, Lurlene buys a used automobile for $20,000. She drives it 9,000 miles for

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On May 15, 2020, Lurlene buys a used automobile for $20,000. She drives it 9,000 miles for business and 3,000 miles for personal trips during the year. What is Lurlene’s maximum cost recovery for 2020?

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Concepts In Federal Taxation 2021

ISBN: 9780357141212

28th Edition

Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg

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Question Posted: Nov 18, 2020 12:42 AM

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On May 15, 2020, Lurlene buys a used automobile for $20,000. She drives it 9,000 miles for

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To use regular MACRS listed property must be used more than 50 in a trade or business use Lurlenes automobile is listed property and her business usag...View the full answer

Concepts In Federal Taxation 2021

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