Author Question: In May 2016, Cassie acquired a machine for $30,000 to use in her business. The machine is classified ... (Read 166 times)

clmills979 · **on:** Sep 13, 2020

Question 1

In July of 2016, Pat acquired a new automobile for $28,000 and used the automobile 80% for business. Pat can take a maximum depreciation deduction in 2016 of
◦ $8,928.
◦ $2,528.
◦ $22,400.
◦ $13,440.

Question 2

In May 2016, Cassie acquired a machine for $30,000 to use in her business. The machine is classified as 5-year property. Cassie does not expense the property under Sec. 179, and the machine is not eligible for bonus depreciation. Cassie's depreciation on the machine this year is
◦ $3,000.
◦ $6,000.
◦ $12,000.
◦ $15,000.

randomguy133 · **Reply #1 on:** Sep 13, 2020

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