On July 15, 2014, H. P. purchases a personal computer for his home. The computer cost $4,000. H. P. uses the computer 60 percent of the time in his business, 15 percent of the time for managing his investments and the remaining 25 percent of the time for various personal uses. Calculate H. P.'s maximum depreciation deduction for 2014 for the computer, assuming he does not make the election to expense or take bonus depreciation.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q59: BOND Corporation is owned 25 percent by
Q61: If a corporation has a short tax
Q80: For each of the following independent situations,
Q85: Lanyard purchased office equipment (7-year property) for
Q87: Shellie purchased a passenger automobile on March
Q88: Give the depreciable or amortizable lives for
Q90: Eva purchased office equipment (7-year property) for
Q91: Patrick purchased a used passenger automobile on
Q95: Bev is the sole owner of Bev
Q103: Perry develops a successful advertising business that
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents