Assume that a taxpayer purchases a computer in 2016 that has an estimated useful life of 10
Question:
Assume that a taxpayer purchases a computer in 2016 that has an estimated useful life of 10 years. If the computer is used 100 percent for business and no election to expense was made, what is the MACRS recovery period that must be used for cost recovery on the taxpayer’s tax return?
a. 5 years
b. 7 years
c. 8 years
d. 10 years
e. 1 year
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The Modified Accelerated Cost Recovery System MACRS is a tax depreciation method used to recove...View the full answer
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Related Book For 
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller
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