Audra Acquires the Following New Five-Year Class Property in 2019

question 5

Essay

Audra acquires the following new five-year class property in 2019: $$\begin{array} { l l r } \text { Asset } & \text { Acquisition Date } & \text { Cost } \\\text { A } & \text { January 10 } & \$ 106,000 \\\text { B } & \text { July 5 } & 70,000 \\\text { C } & \text { November 15 } & \underline { 1,950,000 } \\\text { Total } & & \underline { \underline { \$ 2,126,000} } \\\end{array}$$ Audra elects § 179 treatment for Asset C.Her taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra does not claim any available additional first-year depreciation deduction.Determine her total cost recovery deduction (including the § 179 deduction) for the year.

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Definitions:

Labor Unions

Organizations formed by workers to represent their interests, negotiate wages, and improve working conditions.

Protected Class

Groups of people legally protected from discrimination based on characteristics such as race, gender, age, disability, or religion.

Title VII

A provision in the Civil Rights Act of 1964 that forbids discrimination in employment due to a person's race, color, religious beliefs, gender, or country of origin.

Civil Rights Act

Landmark legislation in the United States that outlaws discrimination based on race, color, religion, sex, or national origin.