Calculate the total deduction john


On October 15, 2011, John purchased and placed in service a used car. The purchase price was $25000. This was the only business use asset john acquired in 2011. He used the car 80% of the time for business and 20% for personal use. John used the statutory percentage method of cost recovery. He elects not to take additional first-year depreciation. Calculate the total deduction John may take for 2011 with respect to the car.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Calculate the total deduction john
Reference No:- TGS0699386

Expected delivery within 24 Hours