Multiple Choice
Harrison acquires $65,000 of 5-year property in June 2015 that is required to be depreciated using the mid-quarter convention (because of other purchases that year) .He did not elect Sec.179 immediate expensing.Bonus depreciation was not available.If Harrison sells the property on August 23,2017,what is the amount of depreciation claimed in 2017?
A) $6,500.00
B) $7,312.50
C) $11,700.00
D) $9,289.00
Correct Answer:

Verified
Correct Answer:
Verified
Q24: Why would a taxpayer elect to capitalize
Q38: Land,buildings,equipment,and common stock are examples of tangible
Q50: Under the MACRS system,automobiles and computers are
Q61: The election to use ADS is made
Q83: If personal-use property is converted to trade
Q86: On January 3,2014,John acquired and placed into
Q88: Caitlyn purchases and places in service property
Q93: If a new luxury automobile is used
Q94: Ilene owns an unincorporated manufacturing business.In 2017,she
Q95: On October 2,2017,Dave acquired and placed into