Bonnie Jo bought a used camera (5 year old property) to use on her unique property. The base of the camera was $3,400. Bonnie Jo used the camera in her business 70 percent of the time and used it for personal purposes the rest of the time during her first year. Calculate Bonnie Jo’s depreciation expense for the first year

Sep 8, 2023

  1. Bonnie Jo bought a used camera (5 year old property) to use on her unique property. The base of the camera was $3,400. Bonnie Jo used the camera in her business 70 percent of the time and used it for personal purposes the rest of the time during her first year. 
  2. Calculate Bonnie Jo’s depreciation expense for the first year assuming the sole property had a loss for the year (Bonnie did not place the property in service in the last quarter):

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