On May 28, 2017, Mary purchased and placed in service a new $20,000 car. The car was
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On May 28, 2017, Mary purchased and placed in service a new $20,000 car. The car was used 60% for business, 20% for production of income, and 20% for personal use in 2017. In 2018, the usage changed to 40% for business, 30% for production of income, and 30% for personal use. Mary did not elect immediate expensing under § 179. She did not claim any available additional first-year depreciation. Compute Mary's cost recovery deduction and any cost recovery recapture in 2018?
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Recall that only business use percentages are used in determining whether the m...View the full answer
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Related Book For 
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
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