which of the following is classified as depreciable,business-use property? A)property placed in services and disposed of...
which of the following is classified as depreciable,business-use property? A)property placed in services and disposed of in the same year.B)A vehicle used by the taxpayer for both personal and business purposes? c)Inventory
Homework Answers
Which of the following is classified as depreciable, business-use property?
The correct answer is option B) A vehicle used by the taxpayer for both personal and business purposes
A vehicle used by the taxpayer for both personal and business purposes can be classified as depreciable, business-use property if its business use is more than 50% and it can be used for service for more than one year. Property placed in services and disposed of in the same year is not consider depreciable as it must have useful life more than one year. Inventory is non-depreciable item.
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which of the following is classified as depreciable,business-use
property? A)property placed in services and disposed of...
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Which of the following is classified as depreciable, business-use property? O Property placed in service and disposed of in the same year. A vehicle used by the taxpayer for both personal and business purposes. Inventory. A copyright
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taxpayers may expense the cost of depreciable personal property placed in service during the year and...
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