Aaron has a successful business with $50,000 of income. He purchased one new asset, a new machine that is 7-year MACRS property, with a cost of $7,000. Of the options available for tax depreciation, what is the largest write-off Aaron could legally take this year?

Question

Business

Manuel Pittman

30 September, 09:44

Aaron has a successful business with $50,000 of income. He purchased one new asset, a new machine that is 7-year MACRS property, with a cost of $7,000. Of the options available for tax depreciation, what is the largest write-off Aaron could legally take this year?

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Answers (2)

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Travis Wu · Answer 1

Answer:$7,000

Explanation: According to the question, Aaron purchased one new asset, a new machine that is 7-year MACRS property, with a cost of $7,000.

Aaron can legally write off the asset in the year of purchase making the highest write off for the year $7,000

Alissa Clarke · Answer 2

Answer for the question:

Aaron has a successful business with $50,000 of income. He purchased one new asset, a new machine that is 7-year MACRS property, with a cost of $7,000. Of the options available for tax depreciation, what is the largest write-off Aaron could legally take this year?

is given below.

Explanation:

Answer:9 c. Non residental real Property is depreciated over 39 years.

Because residental real Property is depreciated over 27.5 years.