Sunday
December 21, 2014

Homework Help: income tax

Posted by Andy on Wednesday, March 21, 2012 at 12:17pm.

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
D. $4,287

is it B

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 ...
income tax - On July 15, 2009, Travis purchased some office furniture for $20,...
tax - On July 15, 2009, Travis purchased some office furniture for $20,000 to be...
Accounting - On July 15, 2009, Travis purchased some office furniture for $20,...
Accounting - In June 2011,Kelly purchased new equipment for $26000 to be used in...
microeconomics - Sam Johnson started a small machine shop, Machines, Inc., in ...
business - Construction of a new plant: Architect's fees $ 4,000 Cash paid for ...
accounting - Complete the work sheet. In completing the worksheet, compute State...

Search
Members