Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When should depreciation start? Purchased on 8/31/X1 Delivered on 12/1/X1 Assembled and started to use 1/15/X2 What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?
Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When should depreciation start? Purchased on 8/31/X1 Delivered on 12/1/X1 Assembled and started to use 1/15/X2 What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?
Chapter17: Property Transactions: § 1231 And Recapture Provisions
Section: Chapter Questions
Problem 9DQ
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![Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When
should depreciation start?
Purchased on 8/31/X1
Delivered on 12/1/X1
Assembled and started to use 1/15/X2
What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa84a4758-fcfb-469c-8938-cd0c632fc193%2Fc0845582-385e-409f-b307-3d96ddeff4c7%2Frsxcvo_processed.png&w=3840&q=75)
Transcribed Image Text:Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When
should depreciation start?
Purchased on 8/31/X1
Delivered on 12/1/X1
Assembled and started to use 1/15/X2
What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?
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