On June 17, 2021, Tom bought listed property (10-year class) for $50,000. He used it 35% personally,
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On June 17, 2021, Tom bought listed property (10-year class) for $50,000. He used it 35% personally, 40% for business and 25% for royalty income. He would take the maximum §179 deduction he is allowed. His business earned $100,000 this year before §179. What is Tom’s cost recovery deduction for 2021. How to get the equation on this?
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