An asset (not an automobile) put in service in June

by | Mar 18, 2020 | Uncategorized

  

An asset (not an automobile) put in service in June 2015 has a depreciable basis of $2,035,000 and a recovery period of 5 years. Assuming bonus depreciation is extended into 2015, a half-year convention, and the expensing election is made for themaximum eligibleamount, what is the maximum amount of cost that can be deducted in 2015 assuming the business earned taxable income of $1,000,000 before deductingany cost recovery?

a. $1,407,000
b. $2,000,000
c. $1,000,000
d. $500,000
e. $407,000
  

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