Question
Xavier bought furniture and fixtures (7-year property) on September 15, 2019 for $1,025,000. He elects to expense as much as possible under Section 179 but
Xavier bought furniture and fixtures (7-year property) on September 15, 2019 for $1,025,000. He elects to expense as much as possible under Section 179 but does not elect the 100% bonus. Xavier's earned income for the year is $1,200,000. What is the maximum deduction Xavier can take in 2019 for the equipment? (Round answers to the nearest dollar)
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
