Multiple Choice
Sophie owns an unincorporated manufacturing business.In 2019,she purchases and places in service $2,557,000 of qualifying five-year equipment for use in her business.Her taxable income from the business before any Sec.179 deduction is $940,000.Sophie elects to expense the maximum under Sec.179 and does not apply bonus depreciation.What is Sophie's maximum total cost recovery deduction for 2019?
A) $940,000
B) $1,013,000
C) $1,250,800
D) $1,323,800
Correct Answer:
Verified
Correct Answer:
Verified
Q52: Harrison acquires $65,000 of 5-year property in
Q53: Under what circumstances might a taxpayer elect
Q54: Amounts paid in connection with the acquisition
Q55: Unless an election is made to expense
Q56: On January 1,2019,Charlie Corporation acquires all
Q58: If the business use of listed property
Q59: If at least 50% of the aggregate
Q60: A calendar-year taxpayer places in service one
Q61: The election to use ADS is made
Q62: Which of the following statements regarding Sec.179