Question
In August of 2017, Joseph acquires and places into services business equipment costing $300,000.The equipment is classified as 5-year recovery property.No other acquisitions are made
In August of 2017, Joseph acquires and places into services business equipment costing $300,000.The equipment is classified as 5-year recovery property.No other acquisitions are made during the year.Joseph elects to expense the maximum amount under Sec. 179.Joseph's total deductions for the year are:
A) $60,000
B) $500,000
C) $100,000
D) $300,000
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
