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Betsy acquired a new network system on June 5, 2018 (5-year class property), for $54,000. She expects taxable income from the business will always be
Betsy acquired a new network system on June 5, 2018 (5-year class property), for $54,000. She expects taxable income from the business will always be about $140,000 without regard to the $179 election. Betsy will elect $179 expensing. She also acquired 7-year property in July 2018 for $280,000. Determine Betsy's maximum cost recovery deduction with respect to her purchases in 2018: (Use Table 6A-1) Betsy's maximum cost recovery deduction Betsy acquired a new network system on June 5, 2018 (5-year class property), for $54,000. She expects taxable income from the business will always be about $140,000 without regard to the $179 election. Betsy will elect $179 expensing. She also acquired 7-year property in July 2018 for $280,000. Determine Betsy's maximum cost recovery deduction with respect to her purchases in 2018: (Use Table 6A-1) Betsy's maximum cost recovery deduction
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