Question

on june 1, 2022, purchased a $900 desk. take advantage of the bonus depreciation. what is the total 2022 depreciation deduction for the desk?

Answer 1

Assuming the $900 desk qualifies, the entire cost can be deducted as bonus depreciation for the tax year 2022.

Step-by-step explanation:

The question asked about the total 2022 depreciation deduction for a desk costing $900, considering taking advantage of bonus depreciation. Under the United States tax code, businesses were allowed to take 100% bonus depreciation on qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023. Given this information and assuming the desk qualifies for bonus depreciation, the entire $900 cost of the desk can be deducted as a business expense for the tax year 2022.