On June 5, 2018, Leo purchased and placed in service a new car that cost $75,000. The
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On June 5, 2018, Leo purchased and placed in service a new car that cost $75,000. The business use percentage for the car is always 100%. Leo does not claim any available additional first-year depreciation. Compute Leo’s cost recovery deductions for 2018 and 2019.
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2018 MACRS cost recovery 75000 020 15000 limited to 10000 10000 2019 ...View the full answer
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Related Book For 
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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