George Purchases Used Seven-Year Class Property at a Cost of $200,000

question 17

Multiple Choice

George purchases used seven-year class property at a cost of $200,000 on April 20,2013.Determine George's cost recovery deduction for 2013 for alternative minimum tax purposes,assuming George does not elect § 179.

• A)$2,500.
• B)$10,000.
• C)$14,280.
• D)$28,580.
• E)None of the above.

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Definitions:

Dissociative Amnesia

This is a disorder characterized by an inability to recall important personal information, usually of a traumatic or stressful nature, that cannot be explained by ordinary forgetfulness.

Dissociative Identity Disorder

A psychological condition characterized by the presence of two or more distinct personality states that control an individual's behavior in different circumstances.

Psychological Disorder

A disorder of the mind involving thoughts, behaviors, and emotions that cause either self or others significant distress.

Pathological Conscious Dissociation

An abnormal mental process involving a disconnection and lack of continuity between thoughts, memories, surroundings, actions, and identity.