Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When should depreciation start? Purchased on 8/31/X1 Delivered on 12/1/X1 Assembled and started to use 1/15/X2 What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?

Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When should depreciation start? Purchased on 8/31/X1 Delivered on 12/1/X1 Assembled and started to use 1/15/X2 What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter17: Property Transactions: § 1231 And Recapture Provisions

Section: Chapter Questions

Problem 9DQ

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Taxpayer has a new piece of equipment for his business. Relevant dates are listed below. When
should depreciation start?
Purchased on 8/31/X1
Delivered on 12/1/X1
Assembled and started to use 1/15/X2
What is the current percentage for additional first year depreciation (i.e. bonus depreciation)?

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