Wilson Corporation purchases a factory building on September 29, 2014, for $4,000,000 exclusive of the amount allocated to the land) . It elects the alternative depreciation system ADS) . What is the 2014 depreciation deduction?
A) $ 29,167
B) $ 30,000
C) $ 42,424
D) $ 70,833
E) $100,000
Correct Answer:
Verified
Q74: Mike purchases a computer (5-year property)for $3,000
Q84: Manu bought Franklin's ownership interest in Antoine
Q88: If the total amount paid for a
Q92: Daniel purchases 5-year class listed property a
Q96: Which of the following intangible assets is
Q98: Charles purchases an interest in a uranium
Q98: Jason purchases a patent at a cost
Q100: In June 2013, Chase purchases a new
Q103: Why would a taxpayer ever elect to
Q109: Discuss why listed property gets special attention.
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