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Calendar year Corp. A purchases and places in service five-year property costing $25,000 on January 11, 2020. The property is depreciated using the MACRS tables. Assuming that Corp. A opts not to take advantage of the Code Sec.179 deduction or bonus depreciation and that the mid quarter convention applies to all five-year property placed in service during 2020, what depreciation deduction will Corp. A claim for 2020? 2. А. $ 6,250 В. 5,000 С. 8,750 D. 1,250 Е. None of the above

Calendar year Corp. A purchases and places in service five-year property costing $25,000 on January 11, 2020. The property is depreciated using the MACRS tables. Assuming that Corp. A opts not to take advantage of the Code Sec.179 deduction or bonus depreciation and that the mid quarter convention applies to all five-year property placed in service during 2020, what depreciation deduction will Corp. A claim for 2020? 2. А. $ 6,250 В. 5,000 С. 8,750 D. 1,250 Е. None of the above

SWFT Individual Income Taxes
SWFT Individual Income Taxes
43rd Edition
ISBN:9780357391365
Author:YOUNG
Publisher:YOUNG
Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion
Section: Chapter Questions
Problem 47P
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2. Calendar year Corp. A purchases and places in service five-year property costing $25,000 on January 11, 2020. The property is depreciated using the MACRS tables. Assuming that Corp. A opts not to take advantage of the Code Sec.179 deduction or bonus depreciation and that the mid quarter convention applies to all five-year property placed in service during 2020, what depreciation deduction will Corp. A claim for 2020? А. $ 6,250 В. 5,000 С. 8,750 D. 1,250 Е. None of the above
Transcribed Image Text:2. Calendar year Corp. A purchases and places in service five-year property costing $25,000 on January 11, 2020. The property is depreciated using the MACRS tables. Assuming that Corp. A opts not to take advantage of the Code Sec.179 deduction or bonus depreciation and that the mid quarter convention applies to all five-year property placed in service during 2020, what depreciation deduction will Corp. A claim for 2020? А. $ 6,250 В. 5,000 С. 8,750 D. 1,250 Е. None of the above
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