In April of 2021, Bill purchased a new automobile for $90,000 that will be used 100% for business. If Bill did NOT have to consider the limitations for depreciation on automobiles, he would be able to deduct $ ____ in regular MACRS depreciation and bonus depreciation the first year. However, he will only be able to deduct $ ____due to the luxury limitations (considering allowable bonus depreciation).

Answer rating: 100% (QA)

To ascertain the deterioration allowances for Bills new auto we really want to think about the MACRS Altered Sped up Cost Recuperation Framework deval... View the full answer