Jaussi Purchased a Computer Several Years Ago for $2,200 and Used

question 29

Essay

Jaussi purchased a computer several years ago for $2,200 and used it for personal purposes. On November 10th of the current year, when the fair market value of the computer was $800, Jaussi converted it to business use. What is Jaussi's tax basis for the computer?

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Definitions:

Emotional Neglect

Emotional neglect occurs when an individual's emotional needs are consistently ignored, minimized, or invalidated by a caregiver or significant other.

Maltreated Children

Children who have experienced abuse or neglect, significantly impacting their development and well-being.

Acting Alone

Refers to the state or condition of performing or functioning independently without assistance from others.

Parental Abuser

An individual who inflicts physical, emotional, or sexual abuse on their child or children.