Determine the cost recovery deduction for 2010


Barry purchased a used business asset (seven-year property) on November 30, 2009, at a cost of $60,000. This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under § 179, nor did he elect straight-line cost recovery. Barry sold the asset on July 17, 2010. Determine the cost recovery deduction for 2010

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Accounting Basics: Determine the cost recovery deduction for 2010
Reference No:- TGS072948

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