Question
Adam purchases and places in service in 2021 personal property costing $2,750,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation.
Adam purchases and places in service in 2021 personal property costing $2,750,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation. What is the maximum Sec. 179 deduction that Adam can deduct, ignoring any taxable income limitation? SHOW WORK
A) $920,000
B) $1,050,000
C) $2,620,000
D) $2,750,000
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Accounting Advanced
Authors: Claudia Bienias Gilbertson
9th Edition
0538447559, 9780538447553
