During the current year,Tony purchased new car wash equipment for use in his service station business.Tony's costs in connection with the new equipment this year were as follows:

What is Tony's basis in the car wash equipment?

Question

During the current year,Tony purchased new car wash equipment for use in his service station business.Tony's costs in connection with the new equipment this year were as follows:

What is Tony's basis in the car wash equipment?

Quizplus · Accepted Answer

C) $45,000 + $4,000 + $600 + $3,000 = $52,600. Operating costs will be currently deducted.

During the Current Year,Tony Purchased New Car Wash Equipment for Use