What is the amount of allowable depreciation

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Sale of Business and Personal-Use Property
Arnie, a college student, purchased a truck in 2010 for $6,000. He used the truck 70% of the time as a distributor for the local newspaper and 30% of the time for personal use. The truck has a five year recovery period and he claimed depreciation deductions of $840 in 2010 and $1,344 in 2011. Arnie sells the truck on June 20, 2012 for $3000.
a)What is the amount of allowable depreciation in 2012?
b) Determine Arnie's realized and recognized gain or loss and its character.

Reference no: EM13128653

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