Solved

Fred Purchases and Places in Service in 2014 Personal Property

Question 89

Multiple Choice

Fred purchases and places in service in 2014 personal property costing $221,000.What is the maximum Sec.179 deduction that Fred can deduct,ignoring any taxable income limitation?


A) $25,000
B) $21,000
C) $4,000
D) $200,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q19: Eric is a self-employed consultant.In May of

Q23: Most taxpayers elect to expense R&E expenditures

Q24: Once the business use of listed property

Q62: Which of the following statements regarding Sec.179

Q75: Depreciable property includes business,investment,and personal-use assets.

Q84: On April 12,2013,Suzanne bought a computer for

Q86: In July of 2014,Pat acquired a new

Q86: Terra Corporation,a calendar-year taxpayer,purchases and places into

Q88: The MACRS system requires that residential real

Q90: In August 2014,Tianshu acquires and places into