Question: Patrick purchased a new industrial printer in 2016 for his business . in 2021 he had to replace the printer's electrical system at a cost
Patrick purchased a new industrial printer in 2016 for his business . in 2021 he had to replace the printer's electrical system at a cost of $12000 . Patrick does not expect to replace the electrical system in the printer's again during the class life of the electrical system . the adjusted depreciation basis of the electrical system at the begging of tax year 2021 was $3500 . the allowable depreciation for the tax year 2021 was $495. Patrick capitalized the cost of the new electrical system . Patrick has decided to make a partial disposition election. what is the amount of Patrick's partial disposition election?
Step by Step Solution
3.43 Rating (153 Votes )
There are 3 Steps involved in it
To calculate Patricks partial disposition election we need to determine the adj... View full answer
Get step-by-step solutions from verified subject matter experts
