Multiple Choice
Chahana acquired and placed in service $1,185,000 of equipment on August 1,2019 for use in her sole proprietorship.The equipment is 5-year recovery property.No other acquisitions are made during the year.Chahana elects to expense the maximum amount under Sec.179,and bonus depreciation is not applied.Chahana's total deductions for 2019 (including Sec.179 and depreciation) are
A) $1,020,000.
B) $237,000.
C) $1,185,000.
D) $1,053,000.
Correct Answer:

Verified
Correct Answer:
Verified
Q11: Under the MACRS system,depreciation rates for real
Q12: All of the following are true with
Q13: On its tax return,a corporation will use
Q14: If a company acquires goodwill in connection
Q15: The client is a corporation which uses
Q17: Maria,a sole proprietor,has several items of office
Q18: Intangible assets are subject to MACRS depreciation.
Q19: If the business use of listed property
Q20: MACRS recovery property includes tangible personal and
Q21: Tronco Inc.placed in service a truck costing