Question
Fariq purchases and places in service in 2019 personal property costing $2,571,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation.
Fariq purchases and places in service in 2019 personal property costing $2,571,000. The taxpayer plans to apply the Sec. 179 deduction, but not bonus depreciation. What is the maximum Sec. 179 deduction that Fariq can deduct, ignoring any taxable income limitation?
A.
$2,550,000
B.
$1,020,000
C.
$999,000
D.
$0
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Accounting For Business
Authors: Peter Scott
2nd Edition
0198719868, 9780198719861
