Company JJ, a calendar year corporation, bought an airplane for use in its oil and gas business

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Company JJ, a calendar year corporation, bought an airplane for use in its oil and gas business in December. The manufacturer delivered the plane to the company's hangar on December 19. Because of severe winter weather, JJ's pilot was unable to fly the plane on company business until February 16 of the next year.
Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question.
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Principles Of Taxation For Business And Investment Planning 2018

ISBN: 9781259713729

21st Edition

Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan

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