An Asset (Not an Automobile) Put in Service in June

question 12

Multiple Choice

An asset (not an automobile) put in service in June 2019 has a depreciable basis of $1,035,000, a recovery period of 5 years, and is the only asset placed in service during the year. Assuming bonus depreciation is used, a half-year convention, and the expensing election is made, what is the maximum amount of cost that can be deducted in 2019 (assume no income limitation) ?

• A)$207,000
• B)$500,000
• C)$1,017,500
• D)$1,000,000
• E)$1,035,000

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Definitions:

Clustered Column PivotChart

An interactive chart in Excel that groups data into columns, allowing for comparison of data across categories.

Clustered Bar PivotChart

A type of chart in Excel that groups bars (representing data points) together in clusters, useful for comparing multiple datasets.

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A category or variety of chart that can be created in Excel to graphically represent data summarized in a PivotTable.

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A feature in Microsoft Excel that allows users to customize the appearance of a PivotChart, including colors, layout, and effects.