Question
Question 32 of 75. Which of the following assets will qualify for a Section 179 deduction? All assets were still in use at the end
Question 32 of 75.
Which of the following assets will qualify for a Section 179 deduction? All assets were still in use at the end of the tax year.
A new computer purchased during the year. The computer, which is located in the taxpayer's home-based business, was used 60% for business.
An inherited vehicle used 85% for business. The fair market value (FMV) at time of death was $14,500.
New kitchen appliances purchased for use in a rental property. The taxpayer's rental activity does not rise to the level of a trade or business.
Office furniture acquired by a taxpayer from their parent. The furniture was purchased at fair market value (FMV) and will be used in the taxpayer's new self-employed venture.
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