what happens on the CCA schedule?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You have equipment with a beginning UCC of $100,000. You purchased the equipment a few years ago for $140,000.
during the year, you sold ALL the equipment for 80000.
what happens on the CCA schedule?
A. $20000 terminal loss DEDUCTED FROM INCOME.
B. $20000 Recapture ADDED TO INCOME
C. $60000 Recapture ADDED TO INCOME
D. $60000 terminal loss DEDUCTED FROM INCOME
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