Audra Acquires the Following New Five-Year Class Property in 2012

question 61

Essay

Audra acquires the following new five-year class property in 2012:

Audra elects § 179 for Asset C.Audra's taxable income from her business would not create a limitation for purposes of the § 179 deduction.Audra takes additional first-year depreciation.Determine her total cost recovery deduction (including the § 179 deduction)for the year.

---

Definitions:

Secondary Sex Characteristics

Physical traits that are not directly involved in reproduction but distinguish between the sexes, such as facial hair in males and breast development in females.

Egocentrism

In developmental psychology, the inability to differentiate between one's own perspective and someone else's perspective.

Erikson's Crises

A series of eight stages through which a healthily developing human should pass from infancy to late adulthood, each stage marked by a different psychological crisis.

Autonomy versus Shame and Doubt

A stage in Erik Erikson’s theory of psychosocial development where toddlers learn to exercise will and do things for themselves or they doubt their abilities.