Question
On July 17, 2016, Elise purchases office furniture (7 year) costing $50,000 for use in her business. She wishes to use the section 179 election.
On July 17, 2016, Elise purchases office furniture (7 year) costing $50,000 for use in her business. She wishes to use the section 179 election. Her taxable income before depreciation deduction is $25,000. What is the max total cost recovery deduction Elise can take for the current year?
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Concepts In Federal Taxation 2017
Authors: Kevin E. Murphy, Mark Higgins
24th Edition
978-1337345811, 1337345814, 978-1337365758, 1337365750, 978-1305950207, 1305950208, 978-1305965119
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