Question
For his business, McKenzie purchased qualifying equipment that cost $212,000 in 2019. The taxable income of the business for the year is $5,600 before consideration
For his business, McKenzie purchased qualifying equipment that cost $212,000 in 2019. The taxable income of the business for the year is $5,600 before consideration of any 179 deduction.
If an amount is zero, enter "0".
a.McKenzie's 179 expense deduction is ____for 2019. His 179 carryover to 2020 is _____.
b.How would your answer change if McKenzie decided to use additional first-year (bonus) depreciation on the equipment?
McKenzie's 179 expense deduction is $for 2019. His 179 carryover to 2020 is ___.
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
