On June 5, 2016, Leo purchased and placed in service a new car that cost $20,000....

On June 5, 2016, Leo purchased and placed in service a new car that cost $20,000. The business use percentage for the car is always 100%. Leo claims any available additional first-year depreciation but does not claim any expense under § 179.

a. What MACRS convention applies to the new car?

b. Is the automobile considered "listed property"?

c. Leo's cost recovery deduction in 2016 is ________ and for 2017 is

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ekkarill92 answered 1 year ago

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