Maximum cost recovery deduction, Financial Accounting

In May of 2010 a calendar year taxpayer, placed in service $2,137,000 of USED 15-year recovery property. The taxpayer has taxable income of $1,175,000 before the cost recovery deduction. What is the maximum cost recovery deduction that the taxpayer may claim with respect to the equipment in the year of purchase?

Posted Date: 3/25/2013 2:48:53 AM | Location : United States

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