Question
Question Content Area During 2022, Travis purchases $43,000 of used manufacturing equipment (7-year property) for use in his business, his only asset purchase that year.
Question Content Area
During 2022, Travis purchases $43,000 of used manufacturing equipment (7-year property) for use in his business, his only asset purchase that year. Travis has taxable income from his business of $51,000 before any cost recovery. What is the maximum amount that Travis may deduct under the Section 179 election to expense?
a. $0
b. $6,145
c. $51,000
d. $43,000
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Financial Forensics Body Of Knowledge
Authors: Darrell D. Dorrell, Gregory A. Gadawski
1st Edition
0470880856, 978-0470880852
