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Based on the 2022 tax rules. Lincoln purchases nonresidential real property costing $300,000 and places it in service in March 2020. He elects Section 179
Based on the 2022 tax rules.
Lincoln purchases nonresidential real property costing $300,000 and places it in service in March 2020. He elects Section 179 for all qualifying assets, but elects out of bonus depreciation. What is Lincoln's 2022 depreciation on the nonresidential real property? A) $6,099 B) $7,692 C) $8,637 D) $0
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