Betsy acquired a new network system on June 5, 2018 (5-year class property) for $75,000. She expects
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Betsy acquired a new network system on June 5, 2018 (5-year class property) for $75,000. She expects taxable income from the business will always be about $175,000 without regard to the §179 election. Betsy will elect §179 expensing. She also acquired 7-year property in July 2018 for $350,000. Determine Betsy’s maximum cost recovery deduction with respect to her purchases in 2018:
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Section 179 can be taken up to 1000000 up to the income limitation The 100 ...View the full answer
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Related Book For 
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
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