Which of the Following Statements Related to the Section 179

Multiple Choice

Which of the following statements related to the Section 179 election to expense is (are) true?
I.A Section 179 deduction can be claimed on tangible personal property
II.A Section 179 deduction can be claimed on property held for the production of income.
III.A Section 179 deduction can be claimed on real property.
IV.A Section 179 deduction is allowed only for assets used in trade or business.
​

A) Only statement I is true.
B) Only statements I and II are true.
C) Only statements I, II, and III are true.
D) Only statements I and IV are true.
E) All of the statements are true.