Timothy Purchased a New Computer for His Consulting Practice on October

question 1

Essay

Timothy purchased a new computer for his consulting practice on October 15 ^th of the current year. The basis of the computer was $4,000. During the Thanksgiving holiday, he decided the computer didn't meet his business needs and gave it to his college-aged son in another state. The computer was never used for business purposes again. Timothy had $50,000 of taxable income before depreciation. What is Timothy's total cost recovery deduction with respect to the computer during the current year?

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Definitions:

Norepinephrine

A neurotransmitter involved in arousal, as well as in learning and mood regulation.

Adrenal Glands

Small glands located on top of each kidney, producing hormones that help regulate metabolism, immune system, blood pressure, response to stress, and other essential functions.

Split-brain Operations

Surgical procedures that sever the corpus callosum, aiming to reduce the severity of epileptic seizures, affecting communication between the brain's hemispheres.

Epilepsy

Temporary disturbances of brain functions that involve sudden neural discharges.