Question 1
Enrico is a self-employed electrician. In May of the current year, Enrico acquired a used van (5-year property) for $12,000. He used the van 80% for business and 20% for personal purposes. Enrico does not take any Sec. 179 deduction. The maximum depreciation deduction for is
◦ $1,200.
◦ $2,400.
◦ $6,720.
◦ $1,920.
Question 2
Enrico is a self-employed electrician. In May of the current year, Enrico acquired a used van (5-year property) for $12,000. He used the van 30% for business. The maximum depreciation deduction for is
◦ $360.
◦ $720.
◦ $2,400.
◦ $1,980.