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Cash
8,000 8,000 –0–
–0–
Jacob is an employee and used the computer 100% of the time in his
employment. Although his homeowner's insurance policy paid Jacob
$7,000 for the stolen computer, Jacob's employer did not reimburse
Jacob for any of the remainder of his loss. Jacob's AGI for the year,
before considering any of the above items, is $50,000. Determine the
total deduction for the stolen items on Jacob's 2012 tax return.
Cost Recovery:
On August 2, 2012, Wendy purchased a new office building for $3.7
million. On October 1, 2012, she began to rent out office space in the
building. On July 15, 2016, Wendy sold the office building.


Determine Wendy's cost recovery for 2012.
Determine Wendy's cost recovery for 2016.
Support your responses with examples.
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ACC 4010 Week 5 Assignment 2 Tax Reform
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ACC 4010 Week 5 Assignment 2 Tax Reform
Tax Reforms