Harrison puts $13,000 of 5-year listed property into service in his business during April. He uses it 30% for his business and 70% for personal purposes. He put no other property into service during the year. How much depreciation can he deduct on this property in the first year assuming he kept the necessary documentation? a) $390 b) $2,600 c) $1,300 d) $3,900 *Please show how to calculate the answer. Thank you!
Harrison puts $13,000 of 5-year listed property into service in his business during April. He uses it 30% for his business and 70% for personal purposes. He put no other property into service during the year. How much depreciation can he deduct on this property in the first year assuming he kept the necessary documentation? a) $390 b) $2,600 c) $1,300 d) $3,900 *Please show how to calculate the answer. Thank you!
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 21CE
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