Carlos purchased a new business asset (five-year property) on February 10, 2023, at a cost of $100,000.
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Carlos purchased a new business asset (five-year property) on February 10, 2023, at a cost of $100,000. Carlos did not elect to expense the asset under 179 and did not elect straight-line cost recovery. He did, however, elect to take the maximum allowable additional first-year depreciation. Determine the total cost recovery deduction for 2023 for this asset..
Related Book For
Fundamentals Of Taxation 2016
ISBN: 9781259812774
9th Edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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