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What is greg allowable depreciation deduction

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Reference no: EM131695718

Question - On January 2, 2010 Greg, a sole proprietor, purchased a new van to beused in his business. He traded in a used van with an adjusted basis of $2,500and paid $7,500 cash. Greg elected straight-line depreciation. He did not electa Sec. 179 deduction for the van. What is Greg's allowable depreciation deduction for 2010?

A) $2,500

B) $2,000

C) $1,000

D) $0

Reference no: EM131695718

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