Question

Preston placed his light truck into service when he purchased it on March 15, 2015. His basis for depreciation was $30,000. He did not claim any §179 expense or bonus depreciation. In 2017 he used the vehicle 75% for business. What is the depreciation for it in 2017?

	$3,250
	$2,588
	$3,050
	$2,288

Answer 1

Solution:

Given data,

Preston placed his light truck into service when he purchased it on March 15, 2015.

His basis for depreciation was $30,000.

He did not claim any §179 expense or bonus depreciation.

In 2017 he used the vehicle 75% for business

From the given data we need to find the depreciation for it in 2017 :

Depreciation for light truck for year 2017 will be $3050 according to plan given byinternal revenue service.

Vehicle is utilized 75% for the business along these lines suitable depreciation will be

$3050 * 75% = $2,287.5

So, The correct answer is Option D. $2,288

The depreciation for it in 2017

$2,288