Find out the total cost recovery deduction


Audra acquires the following new five-year class property in 2010:

Asset Acquisition Date Cost
A January 10 $106,000
B July 5 $70,000
C November 15 $250,000
Total $426,000

Audra elects section 179 for asset C. Audra's taxable income from her business would not create a limitation for purposes of the section 179 deduction. Audra elects not to take additional first-year depreciation. Determine her total cost recovery deduction (including section 179 deduction) for the year.

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Accounting Basics: Find out the total cost recovery deduction
Reference No:- TGS076709

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