At the beginning of the Year 0, CJ began a calendar-year business and placed in service the following assets during the year:

 

Asset	Date Acquired	Cost Basis
Computer equipment	6/23	$5,000
Furniture	8/12	$7,000
Pickup truck	9/15	$10,000
Commercial building	11/20	$270,000

 

In on March 15 of Year 4 CJ sold the building. Assuming CJ does not elect §179 expensing or bonus depreciation, what is CJ’s Year 4 cost recovery for each asset? (20pts)

Answer rating: 100% (QA)

May981021 Answers are highlighted in yellow Solutio... View the full answer