Sid bought a new $80,000 seven-year class asset on August 2, 2014. On December 2, 2014, he purchased $24,000 of used five-year class assets. Sid does not take additional firstyear depreciation if available. If Sid elects § 179, what is the maximum write-off for these purchases for 2014?

Question

Sid bought a new $80,000 seven-year class asset on August 2, 2014. On December 2, 2014, he purchased $24,000 of used five-year class assets. Sid does not take additional first­year depreciation if available. If Sid elects § 179, what is the maximum write-off for these purchases for 2014?

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The Answer of Sid bought a new $80,000 seven-year class asset on August 2, 2014. On December 2, 2014, he purchased $24,000 of used five-year class assets. Sid does not take additional first­year depreciation if available. If Sid elects § 179, what is the maximum write-off for these purchases for 2014?

Sid Bought a New $80,000 Seven-Year Class Asset on August