Barry purchased a used business asset (seven-year property) on september 30, 2017, at a cost of $200,000. this is the only asset he

Question

Barry purchased a used business asset (seven-year property) on september 30, 2017, at a cost of $200,000. this is the only asset he purchased during the year. barry did not elect to expense any of the asset under § 179, did not take additional first-year depreciation, and did not elect straight-line cost recovery. barry sold the asset on july 17, 2018. determine the cost recovery deduction for 2018. a. $19,133 b. $24,490 c. $34,438 d. $55,100 e. none of the above

Karelle Stoltenberg · Accepted Answer

b. $24,490Explanation:Depreciation percentage in 2018 = 24.49%*50%                                                         = 12.245%   Cost recovery deduction = 200000*12.245%                                           = $24490Therefore, The cost recovery deduction for 2018 $24490.

Karelle Stoltenberg · Answer

all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.hope this !

Karelle Stoltenberg · Answer

The correct answer is "a.grassroots movements".

Mr. Toni Zulauf Sr.

Barry purchased a used business asset (seven-year property) on september 30, 2017, at a cost of $200,000. this is the only asset he

3 Answers

AI-Powered Insights

Want to answer this question?

Categories

Tags

Related Questions