November 24, 2015

Homework Help: tax

Posted by Andy on Tuesday, March 20, 2012 at 2:55pm.

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. $1,340

C. $2,679

is it B

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