A taxpayer places a $50,000 5-year recovery period asset in service in 2017.This is the only asset placed in service in 2017.Assuming half-year convention,no immediate expensing,what is the amount of bonus depreciation?

Question

Quizplus · Accepted Answer

The asset qualifies for 50% bonus depreciation because it was placed in service in 2017. The bonus depreciation amount would therefore be $25,000 (50% of $50,000).

A Taxpayer Places a $50,000 5-Year Recovery Period Asset in Service