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o-na [289]
4 years ago
10

In 2019, Muhammad purchased a new computer for $16,000. The computer is used 100% for business. Muhammad did not make a $179 ele

ction with respect to the computer. He does not claim any available additional first-year depreciation.
Required:
1. If Muhammad uses the MACRS statutory percentage method, determine his cost recovery deduction for 2019 for computing taxable income and for computing his alternative minimum tax.
Business
1 answer:
Len [333]4 years ago
8 0

Answer: His cost deduction would be $3,200

Explanation:

Without the mid-quarter convention Muhammad’s 2019 MACRS deduction would be $3,200 ($16,000 x .20). The mid-quarter convention slows down the taxpayers available cost recovery deduction.

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