On October 15, 2022, Jon purchased and placed in service a used car. The purchase price was
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On October 15, 2022, Jon purchased and placed in service a used car. The purchase price was $38,000. This was the only business use asset Jon acquired in 2022. He used the car 80% of the time for business and 20% for personal use. Jon used the regular MACRS method. Calculate the total cost recovery deduction Jon may take for 2022 with respect to the car.
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Related Book For
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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