Olga is the proprietor of a small business in 2010 the

Reference no: EM13609290

Olga is the proprietor of a small business. In 2010, the business income, before consideration of any cost recovery or article deduction, is $250,000. Olga spends $850,000 on new seven-year class assets and elects to take the article 179 deduction on them. If Congress reenacts additional first-year depreciation for 2010, she elects not to take additional first-year depreciation. Olga's cost recovery deduction for 2010, except for the cost recovery with respect to the new seven-year assets, is $95,000. Determine Olga's total cost recovery for 2010 with respect to the seven-year assets and the amount of any article 179 carryforward.

Reference no: EM13609290

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