On May 5, 2012, Jill purchased equipment for $40,000 to be used in her business. She did
Question:
On May 5, 2012, Jill purchased equipment for $40,000 to be used in her business. She did not elect to expense the equipment under Section 179 or bonus depreciation. On January 1, 2017, she sells the equipment to a scrap metal dealer. What is the cost recovery deduction for 2017?
a. $ 892.
b. $ 1,784.
c. $ 3,568 .
d. No deduction allowed.
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Related Book For
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
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