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What would be the amount of terminal loss

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Reference no: EM133131029

Question - James Co has the following related to Class 8? assets:

Beginning? UCC Balance: $32713

James disposes of all assets within the class during the? year, for proceeds of disposition of $21588.

The total cost of these assets was $68631

If James Co has no additions for the? year, and there are no assets remaining in the class at the end of the? year, what would be the amount of terminal loss James Co must include in its calculation of business income for tax purposes?

Reference no: EM133131029

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