On July 15,2012,Travis purchased some office furniture for $20,000 to be used in his business.He did not elect to expense the equipment under §179 or bonus.On December 15,2014,he sells the equipment.What is his cost recovery deduction for 2014?

Question

Quizplus · Accepted Answer

The cost recovery deduction for 2014 is $1,749. This is calculated by taking the cost of the equipment ($20,000) and dividing it by the recovery period (7 years) and multiplying by the number of months in the year (12).

On July 15,2012,Travis Purchased Some Office Furniture for $20,000 to Be