Tina purchased a new car on July 1, 2021, which she used 90% of the time in
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Tina purchased a new car on July 1, 2021, which she used 90% of the time in her consulting business and 10% of the time for personal purposes during 2021. Tina paid $40,000 for the car, and it was the only business asset Tina acquired during 2021. She decided not to claim Section 179 expensing or 100% bonus depreciation for the car. Tina’s depreciation deduction for the car in 2021 will be $8,000.
a. False
b. True
Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Posted Date: