on july 17, 2022, herman places in service a used automobile that cowt $30,000. the car is used 80% for business and 20% for personal use. in 2022, he used the automobile 40% for business and 60% for personal use. herman chooses not to take 179 or additional first-year depreciation. determine the cost recovery recapture for 2023.

on july 17, 2022, herman places in service a used automobile that cowt $30,000. the car is used 80% for business and 20% for personal use. in 2022, he used the automobile 40% for business and 60% for personal use. herman chooses not to take 179 or additional first-year depreciation. determine the cost recovery recapture for 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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