Lina purchased a new car for use in her business during 2022. The auto was the only
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Question:
Lina purchased a new car for use in her business during 2022. The auto was the only business asset she purchased during the year, and her business was extremely profitable.
Calculate her maximum depreciation deductions (including §179 expense unless stated otherwise) for the automobile in 2022 and 2023 (Lina doesn't want to take bonus depreciation for 2022 or 2023) in the following alternative scenarios (assuming half-year convention for all):
d. The vehicle cost $80,000, and she used it 80 percent for business. She sold it on March 1 of year 2.
Expert Answer:
Answer To calculate Linas maximum depreciation deductions for the automobile in 2022 and 2023 well need to consider the following information Vehicle ... View the full answer
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