Luxury Auto Limitations. Lutz Corporation acquired a 100% business-use automobile (MACRS S-year recovery) on July 1, 2019
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Luxury Auto Limitations. Lutz Corporation acquired a 100% business-use automobile (MACRS S-year recovery) on July 1, 2019 for $64,000. The company did not elect Sec 179 expensing and elects out of bonus depreciation. What is depreciation for 2019 and each subsequent year?
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For 2019 the depreciation would be 8 000 64 000 8 years ...View the full answer
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Related Book For
Federal Taxation 2020 Comprehensive
ISBN: 9780135196274
33rd Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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