Multiple Choice
Belsap Inc., a calendar year taxpayer, purchased a total of $590,000 depreciable personalty during May 2017. Which of the following statements is true?
A) Belsap can elect to expense 100% of the cost.
B) The amount of cost that Belsap can elect to expense depends on Belsap's 2017 taxable income.
C) Belsap can elect to expense $510,000 of the cost. The $80,000 remaining cost is capitalized and subject to MACRS depreciation.
D) Belsap can elect to expense $510,000 of the cost. The $80,000 remaining cost is capitalized and is not depreciable.
Correct Answer:
Verified
Correct Answer:
Verified
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