Multiple Choice
During 2018, Duncan purchases and places in service office equipment with a cost of $40,000. The equipment is 7-year MACRS property with an ADS recovery period of 10 years. Duncan desires to avoid the AMT. What is his minimum 2018 depreciation deduction?
A) $2,000
B) $2,857
C) $3,000
D) $4,000
E) $5,714
Correct Answer:
Verified
Correct Answer:
Verified
Q35: Match each statement with the correct term
Q36: Which of the following statements related to
Q38: Kuo Corporation uses the following assets
Q39: MACRS eliminates several sources of potential conflict
Q41: The mid-quarter convention under MACRS provides that<br>A)Depreciation
Q42: Felix purchases the franchise rights to a
Q43: In most cases, the taxpayer may continue
Q44: What is the MACRS recovery period for
Q45: Which of the following intangible assets is
Q106: Match each statement with the correct term