Kondar Corporation (a calendar-year taxpayer) spent $2,090,000 to purchase used machinery in February 2017. a. What is
Question:
Kondar Corporation (a calendar-year taxpayer) spent $2,090,000 to purchase used machinery in February 2017.
a. What is the maximum that Kondar can elect to expense under Section 179?
b. What is the basis for calculating regular MACRS depreciation on this machinery if the maximum Section 179 deduction is elected?
c. What is Kondar’s total depreciation deduction for 2017?
d. What is Kondar’s depreciation deduction for this machinery for 2018?
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a Section 179 Expense The maximum Section 179 expense deduction for 2017 was 510000 However the dedu...View the full answer
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Related Book For 
Taxation For Decision Makers 2018
ISBN: 9781119373735
8th Edition
Authors: Shirley Dennis Escoffier, Karen Fortin
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