Conner purchased a new laser cutting machine for her business (seven-year asset) on September 22, 2019, at a cost of $150,000. On November 12, 2019, she placed the machine in service. This was the only asset she placed in service in 2019. Conner did not elect § 179 or additional first-year depreciation. On March 4, 2022, Conner sold the asset. Determine the cost recovery for 2022 for the asset.
Conner purchased a new laser cutting machine for her business (seven-year asset) on September 22, 2019, at a cost of $150,000. On November 12, 2019, she placed the machine in service. This was the only asset she placed in service in 2019. Conner did not elect § 179 or additional first-year depreciation. On March 4, 2022, Conner sold the asset. Determine the cost recovery for 2022 for the asset.
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 52P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT