​An Asset (Not an Automobile) Put in Service in June

question 19

Multiple Choice

​An asset (not an automobile) put in service in June 2015 has a depreciable basis of $2,035,000 and a recovery period of 5 years. Assuming bonus depreciation is extended into 2015, a half-year convention, and the expensing election is made, what is the maximum amount of cost that can be deducted in 2015 (assume no income limitation) ?

• A)​$407,000
• B)​$1,407,000
• C)​$2,000,000
• D)​$2,035,000
• E)​None of the above

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