What is the cost recovery deduction, Financial Accounting

Tim purchased a used office building on May 15, 2001, for $2,000,000. $500,000 of the purchase price was allocated to the land. On November 1, 2010 the building was sold. What is the cost recovery deduction for the year of the sale?

In May of 2010, a business placed in service $35,000 of property eligible for limited expensing under §179. Line 13 of Form 4562 for 2009 was $15,000. Net income before cost recovery is $57,500. What is the company's deduction related to limited expensing for 2010? I am looking for the line 12 amount on Form 4562.

Posted Date: 3/25/2013 2:47:24 AM | Location : United States







Related Discussions:- What is the cost recovery deduction, Assignment Help, Ask Question on What is the cost recovery deduction, Get Answer, Expert's Help, What is the cost recovery deduction Discussions

Write discussion on What is the cost recovery deduction
Your posts are moderated
Related Questions
I NEED HELP in business ratios for two company.Ido not know how to do the formulas. Can you help.

Q. Theoretical value of shareholding? (i) Theoretical value of shareholding Theoretical ex-rights value = ((No. shares in issue×Market value) + (No. rights shares× righ

As of January 1, 2011, the partnership of Canton, Yulls, and Garr had the following account balances and percentages for the sharing of profits and losses: Cash 80,000 non cash

The objective of this project is to demonstrate the effect of releasing accounting information concerning profits on the valuation (i.e. share price) of an Australian;listed compan

Whereas dividend may be of prime significance to some equity shareholders, this may not be so for the other shareholders. Several shareholders may be interested in receiving a usua

The following details are taken from the accounting records of the company as at 30 June 2010: Debit Credit Sales revenue 49,950,000

Define Accruals or accrued charges What are Accruals or accrued charges - Expenses that are done for the current accounting period which have not yet been paid. These are someti

For this problem we will be working with the Ericksen data set for describing the percentage of the population not counted in the US Census from 1980. In this data set we have diff

Q. Explain the Auditing Standards? Auditing Standards - Guidelines to which an AUDITOR adheres. Auditing standards encompassauditor's professional qualities, as well as her or

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4