Sid Bought a New $80,000 Seven-Year Class Asset on August

question 8

Essay

Sid bought a new $80,000 seven-year class asset on August 2, 2014. On December 2, 2014, he purchased $24,000 of used five-year class assets. Sid does not take additional first­year depreciation if available. If Sid elects § 179, what is the maximum write-off for these purchases for 2014?

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Definitions:

Combining Form

In the context of word formation, a form of a word that is used in combination with another form to create a new word or express a specific meaning.

Intestine

Part of the digestive system, a long tube that helps in the digestion and absorption of nutrients from food.

Combining Forms

Morphemes that occur in the middle or at the beginning of a word and are used to alter its meaning or create a new word.

Entero

Pertaining to the intestines.