Multiple Choice
In 2019, Rydin Company purchased one asset costing $48,400 and elected to expense the entire cost. However, Rydin could only deduct $21,000 of the Section 179 expense because of the taxable income limitation. In 2020, Rydin purchased tangible personalty costing $1,090,000. Rydin's taxable income without regard to any Section 179 deduction was $1,912,400. Compute Rydin's 2020 Section 179 deduction.
A) $27,400
B) $1,040,000
C) $1,067,400
D) $0
Correct Answer:
Verified
Correct Answer:
Verified
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