In February 2019,Dante acquired a new car costing $82,000.He used the car 80% in his sole proprietorship.Assuming Dante does not claim Sec.179 or bonus depreciation,Dante's maximum depreciation deduction allowable for the car will be
A)$13,120.
B)$8,080.
C)$10,100.
D)$14,480.

Question

Quizplus · Accepted Answer

The maximum depreciation deduction for a luxury vehicle in 2019 is $10,100. Since Dante uses the car 80% for business, the deduction is $10,100 x 80% = $8,080.

In February 2019,Dante Acquired a New Car Costing $82,000