Mary purchased a new five-year class asset on March 7,2011.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 $600,000.Mary made the § 179 election.The income from the business before the § 179 deduction was $400,000.Mary does elect not to take additional first-year depreciation.Determine the total deductions with respect to the asset for 2011.

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The Answer of Mary purchased a new five-year class asset on March 7,2011.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 $600,000.Mary made the § 179 election.The income from the business before the § 179 deduction was $400,000.Mary does elect not to take additional first-year depreciation.Determine the total deductions with respect to the asset for 2011.

Mary Purchased a New Five-Year Class Asset on March 7,2011