Saturday
April 19, 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

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

income tax - On May 26, 2007, Jamal purchased machinery for $30,000 to be used ...
tax - On May 26, 2007, Jamal purchased machinery for $30,000 to be used in his ...
Accounting - On May 26, 2007, Jamal purchased machinery for $30,000 to be used ...
accounting - In 2007, Paul who is single has a comfortable salary from his job ...
Finance - Your firm purchased machinery for $10 million. The machinery falls ...
Mathematics - Mr.Allen has a wife and 3 kids.His monthly salary during the year ...
strategic ffinancial mangement - XYZ company is contemplating the purchase of a ...
maths - mr allen has a wife and 3 kids,his salary for 2007 was 7500 per month He...
tax accounting - purchased a bond on August 15, 2012 for $2,100. $200 of the ...
Tax - Anyone knows what's the tax rate in Minnesota? I don't know the name of ...

Search
Members