What is amount of his depreciation deduction for equipment

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Reference no: EM13874812

James purchased office equipment for his business. The equipment has a depreciable basis of $14,000 and was put in service on June 1, 2014. James decided to elect straight-line depreciation under MARCS for the asset over the minimum number of years (7years) and does not make the election to expense. What is the amount of his depreciation deduction for the equipment for the 2014 tax year?

A. $2,000

B. $1,000

C. $500

D. $0

E. None of the above

Reference no: EM13874812

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