Carrie owns a truck costing $13,000 and used for personal activities. The truck has a...
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Accounting
Carrie owns a truck costing $13,000 and used for personal activities. The truck has a $9,900 FMV when it is transferred to herbusiness, which is operated as a sole proprietorship.
Requirements
a. What is the basis of the truck for determiningdepreciation?
b. What is Carries realized gain or loss if the truck is sold for $10,000 after claiming depreciation of $4,000?
Requirement a. What is the basis of the truck for determiningdepreciation?
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