On October 15, 2017, Jon purchased and placed in service a used car. The purchase price was
Question:
On October 15, 2017, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business-use asset Jon acquired in 2017. He used the car 80% of the time for business and 20% for personal use. Jon used the MACRS statutory percentage method. Calculate the total deduction Jon may take for 2017 with respect to the car?
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Because the car is a used car it is not eligible for additional firstyear depreciation i...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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