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Bonnie purchased a new business asset (5 year prop...

Description

Solution


Question

Bonnie purchased a new business asset (5 year property) on March 10, 2012 at a cost of $30,000. She also purchased a new business asset (7 year property) on November 20, 2012, at a cost of $13,000. Bonnie did not elect to expense either of the 2 assets under section 179 nor did she elect straight line cost recovery. Bonnie takes additional first year depreciation. Determine the cost recovery deduction for 2012 for these assets.

 

Paper#2374 | Written in 18-Jul-2015

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