In April of 2012,Brandon Acquired Five-Year Listed Property (Not an Automobile)for

question 90

Multiple Choice

In April of 2012,Brandon acquired five-year listed property (not an automobile) for $30,000 and used it 70% for business.No election was made regarding Sec.179 and bonus depreciation was not available.In 2013,his business use of the property dropped to 40%.Which of the following statements is true?

• A)The change does not affect Brandon's previous depreciation.
• B)Brandon must recapture $2,100 as ordinary income.
• C)Brandon must recapture $4,200 as ordinary income.
• D)Brandon must amend the previous tax return and recompute depreciation.

---

Definitions:

Polk

James K. Polk, the 11th President of the United States (1845-1849), known for his expansionist policy, including the annexation of Texas and the acquisition of territories following the Mexican-American War.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, valued for promoting mutual respect and understanding.

Mining Business

Refers to the industry and activities involved in extracting minerals from the earth, including exploration, extraction, and processing of minerals.

Immigrant Miners

Individuals who have migrated from another country and work in the mining industry, often seeking economic opportunities.