Audra acquires the following new five-year class property in 2015: Asset Acquisition Date Cost A January 10 $ 106,000 B July 5 70,000 C November 15 1,950,000 Total $ 2,126,000 Audra elects § 179 treatment for Asset C.Audra's taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra claims the full available additional first-year depreciation deduction.Determine her total cost recovery deduction (including the § 179 deduction) for the year.

Question

Quizplus · Accepted Answer

The Answer of Audra acquires the following new five-year class property in 2015: Asset Acquisition Date Cost A January 10 $ 106,000 B July 5 70,000 C November 15 1,950,000 Total $ 2,126,000 Audra elects § 179 treatment for Asset C.Audra's taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra claims the full available additional first-year depreciation deduction.Determine her total cost recovery deduction (including the § 179 deduction) for the year.

Audra Acquires the Following New Five-Year Class Property in 2015