Compute the total depreciation allowed

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Reference no: EM131989155

Problem

Tax Drill - Recovery Limitation

On February 17, 2016, Brecken places in service an automobile that cost $23,000. Assume Brecken does not claim the additional first-year or any § 179 deduction. The auto is used 35% for business and 65% for personal use. Assume the luxury automobile limitations for Year 1 is $3,160.

USE MACRS Depreciation

a. Compute the total depreciation allowed for 2016:

b. Assume that the automobile cost $45,000. Compute the total depreciation allowed for 2016:

Reference no: EM131989155

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