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Which of the following is true for taxpayers choosing the Section 179 election to expense? a. They will have the maximum that can be expensed
Which of the following is true for taxpayers choosing the Section 179 election to expense? a. They will have the maximum that can be expensed under the election reduced by $0.50 for each dollar by which the cost of the asset acquired exceeds a specified limit. b. They may not carry over any amounts elected which are not allowed because of taxable income limitations. c. They may expense a $125,000 automobile so long as it is used 100 percent for business. d. They may depreciate the amount of the asset cost that exceeds the amount allowed under the election to expense
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