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November 20, 2014

Homework Help: income tax

Posted by Andy on Wednesday, March 14, 2012 at 5:48pm.

On May 26, 2007, Jamal purchased machinery for $30,000 to be used in his business. He did not elect to expense the equipment under 179 or the bonus. On October 10, 2011, he sells the machinery to a scrap metal dealer. What is his cost recovery deduction for 2011 rounded to the nearest dollar?

a. 0
b. 1340
c. 2679
d. 4287

is it D

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