Lina purchased a new car for use in her business during 2019. The auto was the only business asset she purchased during the year and her business was extremely profitable. Calculate her maximum depreciation deductions (including §179 expense unless stated otherwise) for the automobile in 2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following alternative scenarios (assuming half-year convention for all): e. The vehicle cost $80,000, and she used it 20 percent for business. Answer is not complete. Year Depreciation deduction 2019 2020 S 3,200
Lina purchased a new car for use in her business during 2019. The auto was the only business asset she purchased during the year and her business was extremely profitable. Calculate her maximum depreciation deductions (including §179 expense unless stated otherwise) for the automobile in 2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following alternative scenarios (assuming half-year convention for all): e. The vehicle cost $80,000, and she used it 20 percent for business. Answer is not complete. Year Depreciation deduction 2019 2020 S 3,200
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 4DQ
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Transcribed Image Text:Lina purchased a new car for use in her business during 2019. The auto was the only business asset
she purchased during the year and her business was extremely profitable. Calculate her maximum
depreciation deductions (including §179 expense unless stated otherwise) for the automobile in
2019 and 2020 (Lina doesn't want to take bonus depreciation for 2019 or 2020) in the following
alternative scenarios (assuming half-year convention for all):
e. The vehicle cost $80,000, and she used it 20 percent for business.
Answer is not complete.
Year
Depreciation
deduction
2019
2020
S
3,200
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