Problem 6-47 (LO 6-3) On June 10, 2021, Huron purchased equipment (seven-year class property) for $75,000. (Use Table 6A-1) Required: Determine Huron’s cost recovery deduction for computing 2021 taxable income. Assume that Huron does not make the §179 and bonus elections. Note: Round your answer to 2 decimal places.
Problem 6-47 (LO 6-3) On June 10, 2021, Huron purchased equipment (seven-year class property) for $75,000. (Use Table 6A-1) Required: Determine Huron’s cost recovery deduction for computing 2021 taxable income. Assume that Huron does not make the §179 and bonus elections. Note: Round your answer to 2 decimal places.
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 34P: In March 2019, Helen Carlon acquired used equipment for her business at a cost of 300,000. The...
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Problem 6-47 (LO 6-3)
On June 10, 2021, Huron purchased equipment (seven-year class property) for $75,000. (Use Table 6A-1)
Required:
Determine Huron’s cost recovery deduction for computing 2021 taxable income. Assume that Huron does not make the §179 and bonus elections.
Note: Round your answer to 2 decimal places.
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