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Author Question: Atiqa took out of service and sold a residential rental property on October 31 of this year. She had ... (Read 30 times)

oliviahorn72

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Question 1

Arthur uses a Chevrolet Suburban (GVWR 7,500 pounds) 100% for business. He acquired and placed the vehicle in service in his business in January of the current year. The vehicle cost $65,000. The maximum deduction allowed this year is
◦ $13,000.
◦ $38,000.
◦ $25,000.
◦ $33,000.

Question 2

Atiqa took out of service and sold a residential rental property on October 31 of this year.  She had originally acquired the property in July ten years ago.  The building (excluding the value of the land) cost $1,000,000.  How much is her current year depreciation deduction?
◦ $30,300
◦ $36,360
◦ $18,182
◦ $28,785


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Marked as best answer by oliviahorn72 on Sep 13, 2020

britb2u

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oliviahorn72

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Reply 2 on: Sep 13, 2020
Wow, this really help


diana chang

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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