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    Taxation of Individuals
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    Exam 9: Property Acquisition and Cost Recovery
  5. Question
    Flax, LLC Purchased Only One Asset During 2014
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Flax, LLC Purchased Only One Asset During 2014

Question 82

Question 82

Short Answer

Flax, LLC purchased only one asset during 2014. Flax placed in service a computer (5-year property) on January 16 with a basis of $14,000. Calculate the maximum depreciation expense (ignoring §179 and bonus depreciation).

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