Question: Can you please help me solve the tax problem and show me the steps? Thank you so much for your help! *On June 15,2021, Jim


Can you please help me solve the tax problem and show me the steps? Thank you so much for your help!
*On June 15,2021, Jim purchased an automobile that he used 60% for business and 40% for personal purposes. The cost of the autombile was $65,000. Jim would like to take as much depreciation as he can with respect to this purchase. From the information provided, calculate accumulated depreciation, and the depreciation deduction for 2021. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased prior to 2021. *On June 15,2021, Jim purchased an automobile that he used 60% for business and 40% for personal purposes. The cost of the autombile was $65,000. Jim would like to take as much depreciation as he can with respect to this purchase. From the information provided, calculate accumulated depreciation, and the depreciation deduction for 2021. Assume no bonus depreciation or section 179 expense was taken with respect to any asset purchased prior to 2021
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