Solved: T purchased a new 5 -year class asset on march 7 2015, Accounting Basics

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T purchased a new 5 -year class asset on march 7 2015

Question - T purchased a new 5 -year class asset on March 7, 2015. The asset was listed property (not an automobile) and it was used 75% for business and the rest of the time it was used for personal use. The asset cost $30,000. Determine T's cost recovery deduction for the asset for 2015 (no Sec. 179 election taken).

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Accounting Basics: T purchased a new 5 -year class asset on march 7 2015

Reference No:- TGS02857047

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Prepared by a verified Expert

Accounting Basics: T purchased a new 5 -year class asset on march 7 2015

Reference No:- TGS02857047

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