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Author Question: A calendar-year taxpayer places in service one new piece of equipment this year on March 1. The ... (Read 86 times)

jlmhmf

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Question 1

William purchases nonresidential real property costing $300,000 and places it in service in March 2015. What is Lincoln's 2016 depreciation on the property?
◦ $6,099
◦ $7,692
◦ $8,637
◦ $10,908

Question 2

A calendar-year taxpayer places in service one new piece of equipment this year on March 1. The asset cost $600,000. For this first year, the taxpayer will base the depreciation deduction on 10 months.
◦ true
◦ false


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Marked as best answer by jlmhmf on Sep 13, 2020

tdewitt

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jlmhmf

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review


peter

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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