On October 15, 2021, Jon purchased and placed in service a used car. The purchase price was
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On October 15, 2021, Jon purchased and placed in service a used car. The purchase price was $38,000. This was the only business use asset Jon acquired in 2021. He used the car 80% of the time for business and 20% for personal use. Jon used the regular MACRS method. Calculate the total cost recovery deduction Jon may take for 2021 with respect to the car.
Related Book For
South western Federal Taxation 2017 Essentials of Taxation Individuals and Business Entities
ISBN: 9780357109144
20th edition
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
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