Juan acquires a new 5-year class asset on March 14, 2017, for $200,000. This is the only

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Juan acquires a new 5-year class asset on March 14, 2017, 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, 2018, Juan sells the asset.

a. Determine Juan’s cost recovery for 2017.

b. Determine Juan’s cost recovery for 2018.    

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South-Western Federal Taxation 2018 Comprehensive

ISBN: 9781337386005

41st Edition

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

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