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    Principles of Taxation
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    Exam 7: Property Acquisitions and Cost Recovery Deductions
  5. Question
    Song Company, a Calendar Year Taxpayer, Purchased a Total of $2,534,400
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Song Company, a Calendar Year Taxpayer, Purchased a Total of $2,534,400

Question 53

Question 53

Multiple Choice

Song Company, a calendar year taxpayer, purchased a total of $2,534,400 tangible personalty in 2018. How much of this cost can Song elect to expense under Section 179? 


A)  -0-
B)  $1,000,000
C)  $2,534,400
D)  $965,600

Correct Answer:

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