Question
Amy, a sole proprietor purchased used office equipment for $12,000 in 2016 for his business. This was his only property purchased for his business. Her
Amy, a sole proprietor purchased used office equipment for $12,000 in 2016 for his business. This was his only property purchased for his business. Her taxable income was $150,000 before section 179. She elected to take the maximum section 179 deduction. What is her basis for the MACRS computation?
A. $2,000
B. $12,000
C. $7,000
D. $0
E. None of the above
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Financial Accounting
Authors: Anne Britton, Christopher Waterston
3rd Edition
027365859X, 978-0273658597
