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In 2018, Lassy Enterprises spent $48,400 on tangible personalty and elected to expense the full $48,000. Due to the taxable income limitation, only $21,000 of
In 2018, Lassy Enterprises spent $48,400 on tangible personalty and elected to expense the full $48,000. Due to the taxable income limitation, only $21,000 of the Section 179 expense can be deducted. Lassy purchased tangible personalty for $990,000 in 2019. Without taking into considersation any Section 179 deduction, Lassy 's taxable income was $1,912,400. What is Lassy's Section 179 deduction for 2019?
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