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April 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

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