Alyssa bought a machine (7-year property) for her business on May 5, 2021 for $6.400. She uses the machine 75% of the time in her business and her personal use is 25%. This is the only business asset she acquired in 2021. What is the amount of depreciation she can deduct for 2021 for this machine, assuming she does not elect to use Section 179 and she elects out of Bonus depreciation for the year? $686 $4,800 O $960 O $915 O $6.400
Alyssa bought a machine (7-year property) for her business on May 5, 2021 for $6.400. She uses the machine 75% of the time in her business and her personal use is 25%. This is the only business asset she acquired in 2021. What is the amount of depreciation she can deduct for 2021 for this machine, assuming she does not elect to use Section 179 and she elects out of Bonus depreciation for the year? $686 $4,800 O $960 O $915 O $6.400
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 27P
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