In the current year George, a college photography professor, acquired camera equipment (5- year property) for $1,000 and used the camera equipment 80% for teaching and creative work- related activities and the remaining 20% for personal use. The university provides camera equipment for faculty use, but George prefers his own equipment. Assuming Sec. 179 and bonus depreciation is not applied, the maximum depreciation deduction is
A) $200.
B) $800.
C) $160.
D) $0.
Correct Answer:
Verified
Q65: Amounts paid in connection with the acquisition
Q71: Most taxpayers elect to expense R&E expenditures
Q80: A taxpayer owns an economic interest in
Q2095: During the year 2018, a calendar- year
Q2096: Arthur uses a Chevrolet Suburban (GVWR 7,500
Q2097: Everest Corp. acquires a machine (seven- year
Q2098: In February 2018, Pietra acquired a new
Q2099: Greta, a calendar- year taxpayer, acquires 5-
Q2102: Galaxy Corporation purchases specialty software from a
Q2103: In calculating depletion of natural resources each
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents