Maya placed a passenger automobile into service for her business last year (in 2020). She...

60.1K

Verified Solution

Question

Accounting

Maya placed a passenger automobile into service for her business last year (in 2020). She paid $79,000 for the car and did not claim the special depreciation allowance. This year (in 2021), she used the car 75% for business purposes. If Maya uses the actual expense method of calculating her deduction, what is her maximum 2021 depreciation deduction for the car? $10,100 $12,075 $16,100 $18,960

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students