Audra Acquires the Following New Five-Year Class Property in 2014

question 48

Essay

Audra acquires the following new five-year class property in 2014:
Audra's taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra does not take additional first-year depreciation (if available).Determine her total cost recovery deduction (including the § 179 deduction)for the year.

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Definitions:

Initial Episode

The first occurrence or manifestation of a situation, condition, or series of events.

Permanent

Having the quality of lasting indefinitely without change or decay.

Research

systematic investigation and study of materials and sources to establish facts and reach new conclusions.

Adolescence

The transitional stage from childhood to adulthood that includes physical, psychological, and social changes.