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For both new and used vehicles that are acquired and placed in service after 12/31/17 and used...

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Accounting

Forboth new and used vehicles that are acquired and placed in serviceafter 12/31/17 and used over 50% for business, the TCJA has whichof the following impacts?
A) Dramatically increases the luxury auto depreciationlimitations.
B) Repeals the luxury auto depreciation limitations.
C) Increase the maximim first year luxury auto depreciationlimitation to $25,000.
D) Eliminates any additional luxury auto depreciationallowance for fisrt year bonus depreciation.

Answer & Explanation Solved by verified expert
4.4 Ratings (847 Votes)
A Dramatically increases the luxury auto depreciation limitations Explanation For luxury vehicles which have been acquired and placed in service after 2017 and used for over 50 in    See Answer
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