Problem 8-44 (LO. 2, 3)

Olga is the proprietor of a small business. In 2015, the business's income, before consideration of any cost recovery or 179 deduction, is $250,000.

Olga spends $600,000 on new 7-year class assets and elects to take the 179 deduction on them. She does not claim any available additional first-year depreciation. Olga's cost recovery deduction for 2015, except for the cost recovery with respect to the new 7-year assets, is $95,000.

Note: If required, round your answers to the nearest dollar. Assume that the 2014 additional first-year depreciation and 179 amounts are extended to 2015.

a. What is the tentative amount of Olga's overall 179 deduction for the seven-year class assets before any income limitation? $

b. Olga's cost recovery amount (excluding any 179 deduction) for the seven-year class assets is $ .

c. The total amount of Olga's 179 deduction for the seven-year class assets after any income limitation is $ .

d. Olga's total cost recovery depreciation deduction (including any 179 deduction) is $ .

e. What is the amount of any 179 carryforward? $