Calculate chris''s deduction


Chris opens a chiropractic office in Texas on January 1, current tax year. On July 1, current tax year, Chris purchases a chiropractic reference library from a retiring chiropractor for $6,000. The library has an estimated useful life of three years. Annual depreciation on the library is $2,000. On January 1, current tax year, Chris purchases an annual subscription to a chiropractic journal for $200 and a one-year medical reference service for $500. Calculate Chris's deduction for the above items for the current tax year.

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Accounting Basics: Calculate chris''s deduction
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