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In this year, Jason Products Co., a calendar year taxpayer, purchased business equipment (7-year property) for $3380000. No other personal property was purchased during the
In this year, Jason Products Co., a calendar year taxpayer, purchased business equipment (7-year property) for $3380000. No other personal property was purchased during the year. Jason wants to take the largest possible tax deduction in this year related to this property. To get the largest tax deduction possible in the year for the business equipment, how much Code Sec. 179 deduction can Jason Products take?
[For your answer, please use whole number (no need to round) and ignore the dollar sign and the comma.]
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