The XYZ is a calender year tax payer. The company purchased a truck on March 15,2019 for
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The XYZ is a calender year tax payer. The company purchased a truck on March 15,2019 for 40000 that it uses for business purposes.
On August 2020, the XYZ sold the truck for 35000.
Gemini opted out of Sec.179 and bonus depreciation for 2019.
How much total depreciation deduction did XYZ have from the truck for tax purposes in 2019?
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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