Question
In 2014, T had Sec. 179 deduction carryover of $8,000. In 2015, T elected Sec. 179 for an asset acquired at a cost of $15,000.
In 2014, T had Sec. 179 deduction carryover of $8,000. In 2015, T elected Sec. 179 for an asset acquired at a cost of $15,000. T's Sec. 179 business income limitation for 2015 is $20,000. Determine T's Sec. 179 deduction for 2015.
- Please show the work and explanation for the answer.
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Financial Accounting The Impact on Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
9th edition
130565417X, 1305654174, 9781285972572 , 978-1285182964
