Mary purchased a new five-year class asset on March 7,2014.The asset was listed property (not an automobile).It was used 60% for business and the rest of the time for personal use.The asset cost $90,000.Mary made the § 179 election.The income from the business before the § 179 deduction was $60,000.Mary does not take additional first-year depreciation (if available).Determine the total deductions with respect to the asset for 2014.
A)$10,800
B)$18,000
C)$30,800
D)$60,000
E)None of these

Question

Quizplus · Accepted Answer

Cost for business use: $54,000 (60% × $90,000)
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Mary Purchased a New Five-Year Class Asset on March 7,2014