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stering Depreciation Depreciation of property other than real property begins in the middle of the in which it is placed in service when more than: 25% of the total cost ofall depreciable property placed in service du occurs during the fourth quarter. 40% of the total cost of property less any Section 179 deduction placed in service during the year occurs during the fourth quarter. 40% of the total cost of all depreciable property placed in service during the ye occurs during the fourth quarter. 25% of the total cost of Section 179 property placed in service during the year occurs during the fourth quarter a. b, ar d, On May 11, 2012, your calendar year firm purchases for $10,000 a new office machine with an estimated salvage value of $1,000. If the machine is the only fixed asset purchased in 2012 and no Section 179 deduction is taken, what is your firms maximum 2012 deduction for depreciation? a. $6,000 b. $1,429 c. $2,000 d. $5,715 On May 11, 2012, your calendar year firm purchases for $10,000 a used office machine with an estimated salvage value of $1,000. If the machine is the only fixed asset purchased in 2012 and no Section 179 deduction is taken, what is your firms maximum 2012 deduction for depreciation? a. $6,000 b. $1,429 c. $2,000 d. $5,715 Depreciation of fixed assets under GAAP v. for tax purposes is based on a. original cost less salvage value under GAAP v. original cost for tax b. original c c. original cost less the salvage value both under GAAP and for d. original cost both under GAAP and for tax purposes. ost for GAAP v. the original cost less salvage value for tax purposes. x purposes.
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