On May 15,2014,Brent purchased new farm equipment for $200,000.Brent used the equipment in connection with his farming business.Brent does not elect to expense assets under § 179.Brent does not take additional firstyear depreciation (if available).Determine the cost recovery deduction for 2014.

Question

On May 15,2014,Brent purchased new farm equipment for $200,000.Brent used the equipment in connection with his farming business.Brent does not elect to expense assets under § 179.Brent does not take additional first­year depreciation (if available).Determine the cost recovery deduction for 2014.

Quizplus · Accepted Answer

.1071 × $200,000 = $21,420.

On May 15,2014,Brent Purchased New Farm Equipment for $200,000