Juan acquires a new 5-year class asset on March 14, 2022, for $200,000. This is the only

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Juan acquires a new 5-year class asset on March 14, 2022, for $200,000. This is the only asset Juan acquired during the year. He does not elect immediate expensing under § 179. He does not claim any available additional first-year depreciation.

On July 15, 2023, Juan sells the asset.

a. Determine Juan’s cost recovery for 2022.

b. Determine Juan’s cost recovery for 2023.

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South Western Federal Taxation 2023 Comprehensive Volume

ISBN: 9780357719688

46th Edition

Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young

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Question Posted: Sep 24, 2023 06:49 AM

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Juan acquires a new 5-year class asset on March 14, 2022, for $200,000. This is the only

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South Western Federal Taxation 2023 Comprehensive Volume

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