Debra acquired the following new assets during 2018. Determine Debras cost recovery deductions for the current year.

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Debra acquired the following new assets during 2018. Asset Cost Date April 11 July 28 November 3 Furniture $40,000 Trucks 40,000 Computers 70,000

Determine Debra’s cost recovery deductions for the current year. Debra does not elect immediate expensing under § 179. She does not claim any available additional first-year depreciation.

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South-Western Federal Taxation 2019 Comprehensive

ISBN: 9781337703017

42th Edition

Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young

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Question Posted: Jun 02, 2019 09:38 AM

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Debra acquired the following new assets during 2018. Determine Debras cost recovery deductions for the current year.

Question:

Asset Cost Date April 11 July 28 November 3 Furniture $40,000 Trucks 40,000 Computers 70,000

Step by Step Answer:

The midquarter convention must be used because the cost of the computers acquired in the fourth quar...View the full answer

South-Western Federal Taxation 2019 Comprehensive

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