Election to Expense Assets (LO. 5) During 2019, Belk Corporation purchases $70,000 worth of equipment for use in its business. Belk's current taxable income before considering the Section 179 deduction is $25,000. Assume that Belk elects not to claim bonus depreciation If an amount is zero, enter "0" a. Belk could have a Section 179 election in 2019 of deducting 26,000 and carrying forward the excess of $44,000 Or, Belk can elect to deducts and depreciate the equipment, using a basis of b. Belk's 2020 business taxable income-before a Section 179 deduction-- $50,000. Belknad a carryforward, their Section 179 deduction in 2020 s If Belk chose to depreciate their Section 279 deduction in 2020 is