Timothy Purchased a New Computer for His Consulting Practice on October

question 64

Essay

Timothy purchased a new computer for his consulting practice on October 15^th of the current year. The basis of the computer was $4,000. During the Thanksgiving holiday, he decided the computer didn't meet his business needs and gave it to his college-aged son in another state. The computer was never used for business purposes again. Timothy had $50,000 of taxable income before depreciation. What is Timothy's total cost recovery expense with respect to the computer during the current year?

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Definitions:

Hypnosis

A trance-like state of focus and concentration achieved with the help of a clinical therapist, often used for therapeutic purposes.

Unifying Themes

Central ideas or concepts that are common across a wide range of subjects, serving to link different areas of study or thought.

Psychological

Pertains to the mind or mental processes and how these affect behavior and well-being.

Psychoactive Drugs

Substances that can alter perception, mood, consciousness, or behavior by affecting the central nervous system.