On June 5, 2016, Leo purchased and placed in service a new car that cost $20,000. The
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On June 5, 2016, Leo purchased and placed in service a new car that cost $20,000. The business use percentage for the car is always 100%. Leo claims any available additional first-year depreciation. Compute Leo’s cost recovery deductions for 2016 and 2017.
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Related Book For
South-Western Federal Taxation 2018 Comprehensive
ISBN: 9781337386005
41st Edition
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
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