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show me how to work it out. please and thank you. In 2019, Tara acquires and places into service in her business 10-year MACRS property
show me how to work it out. please and thank you.
In 2019, Tara acquires and places into service in her business 10-year MACRS property costing $45,000 and 5-year MACRS property costing $215,000. Tara elects Sec. 179 expensing for all of the properties' cost. Tara's taxable income (before the Sec. 179 and 50% of self-employment deductions) is sinmm Requirement a. What amount may Tara deduct under Sec. 179 for 2019 for the properties? What amount can she carry over to 2020? Reference General Depreciation System-MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balanc In 2019, Tara acquires and places into service in her business 10-year MACRS property costing $45,000 and 5-year MACRS property costing $215,000. Tara elects Sec. 179 expensing for all of the properties' cost. Tara's taxable income (before the Sec. 179 and 50% of self-employment deductions) is sinmm Requirement a. What amount may Tara deduct under Sec. 179 for 2019 for the properties? What amount can she carry over to 2020? Reference General Depreciation System-MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balanc Step by Step Solution
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