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Determine the depreciation deduction for the year of sale

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Reference no: EM132578261

Question - On 15 August 2019, ABC LLC sold furniture (seven-year property) it had placed in service on 1 November 2017. The furniture was the only asset placed in service during 2017 and had an initial basis of $7,000. Further, ABC did not elect 179 expensing and elected out of bonus depreciation (no 179 or bonus). Determine the depreciation deduction for 2019, the year of sale.

Reference no: EM132578261

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