Hans purchased a new passenger automobile on August 17, 2021, for $30,000. During the year, the car was used 40% for business and 60% for personal use. Determine his cost recovery deduction for the car for 2021. O $1,000 Ob $500 e $1,200 Od $1,333
Hans purchased a new passenger automobile on August 17, 2021, for $30,000. During the year, the car was used 40% for business and 60% for personal use. Determine his cost recovery deduction for the car for 2021. O $1,000 Ob $500 e $1,200 Od $1,333
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter5: Business Deductions
Section: Chapter Questions
Problem 46P
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Transcribed Image Text:Hans purchased a new passenger automobile on August 17, 2021, for $30,000. During the year, the car was used 40% for business and 60% for personal use. Determine
his cost recovery deduction for the car for 2021.
O $1,000
b. $500
O $1,200
Od $1,333
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