During 2014, Photo, Inc. pays $217,000 for 7-year property. This was Photos only purchase in 2014. If
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During 2014, Photo, Inc. pays $217,000 for 7-year property. This was Photo’s only purchase in 2014. If Photo has $6,000 of taxable income from the business, what is the maximum amount of Section 179 expense Photo can elect to take on the 7-property in 2014?
a. $6,000
b. $8,000
c. $25,000
d. $17,000
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Related Book For
Essentials Of Federal Income Taxation For Individuals And Business
ISBN: 9780808038009
15th Edition
Authors: Linda M. Johnson
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