Yoyo Corporation bought $42,000 worth of energy equipment in November 2014, taking an investment credit of $4,200.
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Yoyo Corporation bought $42,000 worth of energy equipment in November 2014, taking an investment credit of $4,200. In March 2019, the firm sells the equipment for $30,000. What is the investment credit recapture?
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The Investment Tax Credit ITC recapture may occur when the taxpayer dispose...View the full answer
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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