Sutton Inc. acquired a 10 year asset to which the half year convention applied. This was the
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Question:
Sutton Inc. acquired a 10 year asset to which the half year convention applied. This was the only asset the company placed in service during the year. The taxpayer elected out of Section 179 expense deduction and additional depreciation. Neither the straight-line method nor the 150% declining balance method was elected. The cost of $10,000. What is the depreciation for the first year?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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