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Lars acquired a new network system on June 5, 2021 (five-year class property), for $62,000. She expects taxable income from the business will always be
Lars acquired a new network system on June 5, 2021 (five-year class property), for $62,000. She expects taxable income from the business will always be about $180,000 without regard to the 179 election. Lars will elect 179 expensing. She also acquired seven-year property in July 2021 for $360,000. (Use Table 6A-1) Required: Determine Larss maximum cost recovery deduction with respect to her purchases in 2021.
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