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Kyle Drives a Race Car in His Spare Time and on Weekends.His

Question 132

Multiple Choice

Kyle drives a race car in his spare time and on weekends.His records regarding this activity reflect the following information for the year.
Kyle drives a race car in his spare time and on weekends.His records regarding this activity reflect the following information for the year. What is the allowable deduction (before any AGI limitation) for depreciation assuming that this activity is not engaged in for profit and Kyle can itemize his deductions? A) $0 B) $300 C) $1,400 D) $1,700
What is the allowable deduction (before any AGI limitation) for depreciation assuming that this activity is not engaged in for profit and Kyle can itemize his deductions?


A) $0
B) $300
C) $1,400
D) $1,700

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