Manassas Purchased a Computer Several Years Ago for $2,200

question 12

Essay

Manassas purchased a computer several years ago for $2,200. On November 10 ^th of the current year, the computer was worth $800. If $1,000 of depreciation deductions had been taken, what is Manassas's tax-adjusted basis for the computer?

---

Definitions:

Financial Information

encompasses data related to the monetary aspects of an individual or organization, such as assets, liabilities, income, and expenses.

Securities Act

A federal law enacted in 1933 that governs the primary issuance of securities (stocks, bonds) to the public, aiming to ensure transparency and prevent fraud in the securities market.

Accredited Investors

Individuals or entities that meet certain financial criteria, allowing them to invest in securities not registered with financial authorities.

Sophisticated Investors

Individuals or entities with significant experience, assets, and knowledge, enabling them to assess investment risks and opportunities.