On September 14, 2020, Jay purchased a passenger automobile that is used 75 percent in his business.
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On September 14, 2020, Jay purchased a passenger automobile that is used 75 percent in his business. The automobile has a basis for depreciation purposes of $45,000, and Jay uses the accelerated method under MACRS. Jay does not elect to expense.
Calculate Jay’s depreciation deduction for 2020 assuming bonus depreciation.
$________________
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Related Book For
Income Tax Fundamentals 2021
ISBN: 9780357141366
39th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
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