Business, 20.03.2020 05:40 azibur3191

Barry purchased a used business asset (seven-year property) on September 30, 2019, at a cost of $200,000. This is the only asset he purchased during the year. Barry did not elect to expense any of the asset under § 179, did not claim additional first-year depreciation, and did not elect straight-line cost recovery. Barry sold the asset on July 17, 2020. Determine the cost recovery deduction for 2020.

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Barry purchased a used business asset (seven-year property) on September 30, 2019, at a cost of $200...

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