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The basis of an asset on which $20,000 has been expensed under 179 will be reduced by $20,000, even if $20,000 cannot be expensed in

The basis of an asset on which $20,000 has been expensed under 179 will be reduced by $20,000, even if $20,000 cannot be expensed in the current year because of the taxable income limitation:

True

False

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