How much depreciation is entitled to deduction


Listed Property

Response to the following problem:

During 2014, Simon (self-employed) pays $14,500 for a new automobile that he uses 45% of the time for business, 25% of the time for investment purposes, and 30% of the time for personal use. The half-year convention applies to the automobile. How much depreciation is Simon entitled to deduct in 2014?

Solution Preview :

Prepared by a verified Expert
Taxation: How much depreciation is entitled to deduction
Reference No:- TGS02109419

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)