Juan acquires a new 5-year class asset on March 14, 2021, for $200,000. This is the only
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Juan acquires a new 5-year class asset on March 14, 2021, for $200,000. This is the only asset Juan acquired during the year. He does not elect immediate expensing under § 179. He does not claim any available additional first-year depreciation. On July 15, 2022, Juan sells the asset.
a. Determine Juan’s cost recovery for 2021.
b. Determine Juan’s cost recovery for 2022.
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Related Book For 
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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