Tonia acquires the following 5-year class property in 2016:
Asse t
Date of Acquisition Cost
Tonia does not elect §179 or bonus depreciation.Tonia has $300,000 of taxable income from her business.Determine her total cost recovery deduction for the year.

Question

Tonia acquires the following 5-year class property in 2016:
Asse t
Date of Acquisition Cost
  Tonia does not elect §179 or bonus depreciation.Tonia has $300,000 of taxable income from her business.Determine her total cost recovery deduction for the year.

Quizplus · Accepted Answer

The Answer of Tonia acquires the following 5-year class property in 2016:
Asse t
Date of Acquisition Cost
  Tonia does not elect §179 or bonus depreciation.Tonia has $300,000 of taxable income from her business.Determine her total cost recovery deduction for the year.

Tonia Acquires the Following 5-Year Class Property in 2016