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5. In 2022 Marcy purchases equipment for $3,000,000 for use in her business. She has $1,500,000 in taxable income from her business during the year
5. In 2022 Marcy purchases equipment for $3,000,000 for use in her business. She has $1,500,000 in taxable income from her business during the year and makes a proper section 179 election. How much may Marcy deduct in 2022 under section 179 if she makes a proper election? (Ignore any inflation adjustments). a. $100,000 b. $500,000 c. $1,000,000 d. $1,500,000
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