Eric is a self-employed consultant. In May of 2018, Eric acquired a computer system (5-year property)...
Eric is a self-employed consultant. In May of 2018, Eric acquired a computer system (5-year property) for $6,000 and used the computer 80% for business and 20% for personal purposes. Eric does not take any Sec. 179 deduction. The maximum depreciation deduction in 2018 is
Group of answer choices
$960
$600
$4,800
$1,000
Homework Answers
The maximum DEPRECIATION DEDUCTION allowed is $960.
On listed properties, depreciation will be allowed to be taken as deduction.
On listed properties which are used for business purposes for more than 50%,MARCS DEPRECIATION is used.
Since computer is in listed properties so Maximum deduction is taken i.e,
$(6000*20%*80%)=$960
Only the property which is used for business tis taken into consideration
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